PRESS RELEASE – 4 January 2012
Since its launch in September 2011 RentMyItems.com has received significant coverage in the media including mentions in The Sunday Times (Business), BBC News (Business), The Guardian, MSN and Yahoo. In order to further develop the site and its promotional activity, and following an initial ‘friends and family’ funding round, RentMyItems.com is now looking to raise investment through Angel Investment Network and Crowdcube.com.
RentMyItems.com sits within the ideas, ideals and current trend of the Collaborative Consumption movement (simply, those people and businesses who are willing to share or rent things instead of buying them). Time Magazine determined Collaborative Consumption would be one of the “10 Ideas That Will Change the World” (17 March 2011). RentMyItems.com is looking to raise £100,000 through Angel Investment Network (www.angelinvestmentnetwork.co.uk) where investors can invest sums from £5,000, and £50,000 through the crowd-funding website Crowdcube.com (www.crowdcube.com) where investors can invest sums from £10. RentMyItems.com has also been accepted onto the Enterprise Investment Scheme and so investments of £500 or more receive a 30% tax rebate.
Warren Heal, founder and CEO of RentMyItems.com stated “Having received initial funding of £40,000 from our own pockets and also a ‘friends and family’ round we were able to launch RentMyItems.com in September of last year and get the idea known. We are now looking at the ongoing development of the site, including its promotion and new features such as an ‘I Want To Rent A…’ notice-board and for this are looking at raising funding through Angel Investment Network and Crowdcube.com. RentMyItems.com has recently been named as both one of ten ways to make/save money in 2012 (The Guardian) and one of the 40 best new websites that save you money (WebUser magazine)”.
Recent research commissioned by RentMyItems.com* showed that a staggering £2.9 billion had been spent on unused or little used items in the last twelve months. RentMyItems.com believes that by the renting of little-used household items through the site users are able to make a little extra money (Rentors), save money by not buying an item (Rentees) and help the environment through the reduction in usage of raw materials.
*ICM interviewed a random sample of 2030 adults aged 18+ via online between 9th – 11th September 2011. Surveys were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information at www.icmresearch.co.uk.
For further information contact:
Paul Savident – 0044 7966 014911 / paul@savident.com / savident.com
Editor’s Notes
Website: http://rentmyitems.com/
The RentMyItems.com website is easy to use. You are able to search by item, keywords, place or postcode and radius, and categories.
Adding an item is a straightforward process: select a category, name, upload up to 5 images, description and keywords, your postcode, rental price and deposit, and item availability calendar.
Items can be listed FREE until the end of March 2012. RentMyItems.com takes no commission from rentals and there is no obligation to continue listing after the free listing period ends.
Quoted Links:
Angel Investment Network: www.angelinvestmentnetwork.co.uk
Crowdcube: http://www.crowdcube.com/investment/rentmyitems-com-10479
Time Magazine: http://www.time.com/time/specials/packages/article/0,28804,2059521_2059717_2059710,00.html
Collaborative Consumption: http://collaborativeconsumption.com
