Global Media

Sharing firm loses most of its 300000 umbrellas

Sharing firm loses most of its 300000 umbrellas”

An umbrella-sharing start-up announced it lost almost all its 300,000 umbrellas within three months - because people kept refusing to return the borrowed umbrellas.

Local state media website The Paper said Sharing E Umbrella, which launched a few weeks ago in 11 cities across China, had said all the umbrellas it launched with had vanished without a trace.

The company Sharing E Umbrella required a deposit of £2.20 per umbrella and charged about 6p for every half an hour of use, deducted from a minimum top-up of £1. It was unclear how users were meant to return the umbrellas, however, costing the company $8.82 for each umbrella that went unreturned.

"Umbrellas in China are generally quite cheap", said Kerry Allen, a China analyst with BBC Monitoring. "Bikes can be parked anywhere, but with an umbrella you need railings or a fence to hang it on". "We were really impressed by the bike-sharing model", Mr Zhao said.

A host of different companies have been able to take advantage of China's sharing economy craze.

The SCMP reports that Zhao concluded that the safest place for an umbrella would be at the customer's home, where it would be safe and undamaged.

More news: Trump says it again: MX will pay for wall
More news: Victory in Mosul 'about to be announced', Iraq state TV claims
More news: Stocks open mixed ahead of FOMC minutes

He says that he is determined for his business to be a success and will make another 30 million umbrellas available for rent across the country by the end of the year. The Chinese start-up's concept is similar to existing bicycle-sharing schemes which allow people to pay a small deposit to rent a bicycle, use it, and return it to designated cycle racks.

As Sixth Tone notes, many cities in China experience the most rain in the summer. What's worse, in regions with frequent rain, people are more likely to just buy their own umbrellas.

What's the key ingredient to an umbrella sharing business?

Manchester and Salford will be the first cities outside Asia to play host to the cycle sharing scheme as part of a trial which will last around six months, reports the Manchester Evening News.

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



Like this

Latest


11 July 2017
Vatican Cardinal to face child sexual abuse charges in Australia
He has taken a leave of absence for the trial, but says he plans on returning to his powerful post in the Vatican. Given that history, some people found it surprising that Pell was given a powerful role at the Vatican.

11 July 2017
Shark bites man swimming off Florida beach
The video, which was taken from a distance, shows the water near the man turning red as he was bit by the shark. This article will be updated as more information becomes available.

09 July 2017
Cruz faces health care heat during town hall
Meadows previously indicated that his conservative caucus did not think the Senate's bill did enough to eliminate ACA regulations. Senator Cruz responded to those inside "I think it's critical as republicans to honor our promise to repeal Obamacare".

06 July 2017
UK's Worldpay says had takeover approaches from Vantiv, JPMorgan
Worldpay floated on the London Stock Exchange in 2015 and has scaled revenue and underlying profits in the past 12 months. The offer comprises 0.55 pounds in cash, 0.0672 in new Vantiv shares and a 5 pence dividend per share.

05 July 2017
Spider-Man: Homecoming - eve of release poster revealed
He will also be seen in " Avengers: Infinity War ", which is slated to release in 2018. He said: "Tom is the ideal man for the job".

05 July 2017
Sagan kicked out of 2017 Tour after Cavendish elbow
The 1.6km long uphill finish to the stage was tailor-made for Sagan and the world champion did not disappoint, proving his power despite his minor pedal-clip problem.

03 July 2017
Kanye West Doesn't Want to Do Any More Exclusive Streaming Deals
West reportedly did not have advance knowledge of those lyrics. "Please don't send them at my head". But West has reportedly responded in kind, noting he would countersue if Tidal did take action.

03 July 2017
Trump defends social media posts: Not presidential, but modern-day presidential
Scarborough said he and Brzezinski refused. "We don't have to get along, but we must show respect and civility", she said. In a Washington Post op-ed published Friday , Brzezinski and Scarborough, who are also engaged, said Trump is "not well".

02 July 2017
Man charged with kidnapping Chinese scholar from University of Illinois
On Thursday, agents who had Christensen under surveillance heard the suspect admit he had abducted Zhang . He admits picking up an Asian woman but says he dropped her off in a residential area a few blocks away.

02 July 2017
GST a tribute to maturity, wisdom of India's democracy: President
District BJP leaders welcomed the Goods and Services Tax on the very first day of its coming into effect. A short film on the GST played out on television screens as soon as Modi and Mukherjee pressed a button.



Recommended