Chinese Umbrella-Share Startup Lost Almost 300000 Umbrellas

The Verge suggests another problem, that "the startup apparently didn't provide enough information on how customers can return the umbrellas when they're done".

E Umbrella, an umbrella sharing startup that launched in China just three months ago, has reportedly lost most of its inventory. Why?

The idea was that customers could use an app to pay a 19 yuan (£2.20) deposit fee for an umbrella, then just 50 jiao every half hour to use it.

Each lost umbrella costs E Umbrella about RMB60 to replace, but the company still intends to add another 30 million over the next several months.

After seeing the launch of bike-sharing schemes across the country, the Shenzhen-based businessman said he "thought that everything on the street can now be shared".

It's a story that reminds us of Wukong Bicycles and 3Vbike, two bike-sharing companies who also lost all their bicycles. "Bikes can be parked anywhere, but with an umbrella you need railings or a fence to hang it on".

Sixth Tone, however, reports that Sharing E Umbrella faces serious competition, with around 15 companies hoping to make a dent in the young "shared umbrellas" market in China.


Cars to batteries: is China's sharing economy in bubble territory? The loss doesn't sound like much when the company has plans to add 30 million umbrellas by the end of the year.

"Umbrellas are different from bicycles", Shuping told the South China Morning Post. If at first you don't succeed.

For a business that depends on rain, finding a steady profit might prove challenging.

However, just weeks after making 300,000 brollies available to the public the company announced that majority had gone missing.

Umbrella renting schemes aren't the only sharing businesses suffering from problems with theft in China.

Last month, a bicycle loan company had to close after 90 per cent of its bikes were stolen.

A COMPANY which handed out 300,000 brollies under a weird rental scheme has revealed they've almost all gone missing.


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