# Idle

Idle is a peer to peer smartphone app that enables users to rent and rent out Idle goods

## Elevator pitch
Idle is a smartphone app that people can use to connect to others in the area to rent and rent out items that they have in their garages and homes.

- Canonical URL: https://wefunder.com/idle.llc.3
- Entity ID: wefunder:company:53686
- Last updated: 2026-06-22T05:03:05Z
- Generated at: 2026-06-23T00:56:01Z

## Quick facts
- Fully developed app with an existing user base with over 175,000 installs to date.
- A front-runner in one of the fastest growing global markets: the emerging sharing economy.
- Participation in the sharing economy promotes behaviors that reduce CO2 emissions and waste.
- Renting and renting out your items can be a more attractive alternative to buying new.
- Over $7,000,000 in inventory already listed by owners.
- Completed YC Online Startup school. Co-Founder is a tech veteran with major exits to his credit.
- Held the top position in the shopping category in Google Play store in 2020.

## Active fundraises
- wefunder:fundraise:29291: 4(a)(6) successful (USD)
- wefunder:fundraise:36470: 4(a)(6) successful (USD)

## FAQ
1. **Hi Nick. I was an early adopter of the app, and still think it's a great idea, though the reason I never used it was due to the fact that there seemed to be very little activity within the user base. I know you're trying to get traction of course, though in the time since I fi...**
   - Geoffrey, thanks for being an early adopter and for your question. Out of curiosity, in what area of the country are you located? Since our launch in October 2019, we've gotten around 175k downloads... around 26,000 of those are fully registered users that are either owners or potential renters. But as you already know, to be able to have legitimate inventory everywhere, we need to get the word out across the country to as many folks as possible. Consequently, 80% of the funds raised here wil...
2. **What plans or goals are in place for the use of the capitol raised in this funding campaign?**
   - Great question, and thanks for your inquiry. I'll be posting more detail in the coming days but in general, we plan to use at least 80% of the funds towards marketing and business development weighted mostly towards the marketing side. 12.5% towards overhead, 7.5% towards Wefunder fees.
3. **Thanks for the response. Of those 26K fully registered members what's the breakdown of successful rental transactions & repeat transactions? I understand that you have to get the word out, however, some initial numbers would be helpful to understand the baseline of current...**
   - No problem and thanks again for the great question... I will be sending you an email within the next 24 hours with some detail. I would post publicly but I need to get some clarification on wefunder disclosures first.
4. **Hi, is this an offering for LLC membership units? Also, do you all expect to become profitable any time soon? Thanks**
   - Once our form C is filed with SEC, you will have the terms of the offering... So to answer your question, this will be an opportunity for equity in the company - but until our SEC forms are accepted, this is technically a non-binding pledge to invest once that's done;
5. **Hey there...never got that email with more detail.**
   - Geoffrey, I apologize for the miscommunication. Can you send me an email to info@getidle.com and I'll reply with the data.... Or, if you prefer, I'd be happy to chat via phone if you'd like to schedule a few minutes with me this week.

## Team
- Nicholas Luft (CEO)

## Recent posts
- 3 Days Left (2022-01-20T16:56:43Z)
- Happy Holidays (2021-12-21T21:00:48Z)
- Thanksgiving (2021-11-23T02:27:23Z)
- Rolling close (2021-11-09T02:38:48Z)
- We're getting noticed! (2021-07-29T02:37:28Z)
- Update #1 (2021-06-29T18:48:09Z)

## Q&A
- Q: Hi Nicholas, I'm curious if you could describe the main difference between the approach of Idle, and that of Yoodilize, also fundraising now. No harm in investing in both companies, they look great, but as a scholar of network economics I know that these are ultimately winner-take-all markets. What is it that sets Idle apart from others in that race?
  - A: Patrick, yes, the personal rental market is a market based on network effects just like other giants, eBay, Amazon, Google, Etsy, Facebook. To win in ay of these market it's important to make clear but important demarcations between markets, like Etsy and Ebay do. Ultimately, the winning factor for each company was the trust they forged with their users and the 'network effect' with users themselves. That's been our main focus and will continue to be and this Wefunder raise is, itself, a way to capitalize on this because we will have new investors who will be users and who will help us build up to win this. You never can know for sure who will win a race like this but I do think you should bet on us.
- Q: Any update???
- Q: How smooth is the app? What was your budget to develop it? thx!
- Q: What is your GMV stats? To me, this is a key part of the investment thesis - how many transactions are happening through your app and at what revenue amount? Can you provide details like YoY stats around this?
- Q: Similar question to Patrick's. I have invested in previous companies in this space, and they both went under. So, the general-stuff-rental app is a concept with several bankruptcies and a few current competitors. Why is this idea difficult, and why will Idle be the one to overcome these difficulties?
  - A: Great question... I'll try to answer as best as I can without publicly broadcasting some very specific competitively sensitive information. I've done a deep dive on the above mentioned company and other competitors. If you really take a look at them, they're very much still in the "mom and pop" phase of the business. It's not in my nature to publicly badmouth another company (especially a startup - it's a tough game). However, if you really take a good look (both in the app and filings), I think you'll find that they are just getting started. - We have 175k downloads, approx 27k active users, and millions in inventory already listed (that we don't own - It's all from our user base). . -We have more traction and brand recognition - on an exponential scale. Our Youtube video alone has 1.5 million views. For example, if you check out Google Play Store listings, you'll find that they have 1k+ downloads (in over a year) vs our 175k+ in roughly the same amount of time. - There are Idle users in every single state. They have a small footprint in Utah. It's not lost on me that one way to do this is test a small market first. But in order to really succeed with this big idea, I believe that we need to aim big... Peer-to-peer rentals are not yet a part of most folks' daily lives, and it will take a mindset change over millions of people to bring our vision to reality. We're ready and confident that we are on the path to achieving this in a very tangible way. - We have a co-founder with multiple exits in the tech space. - Our app is refined and capable of the growth that we anticipate and has gone through multiple and frequent updates. - And, most importantly... we have the benefit of experience. I can't tell you how many obstacles and hazards we've had to overcome over the last 18 months, but we survived and ultimately pivoted the business to adapt. I wouldn't change a single thing because I'm certain that these challenges put us on a path to a strategy that was forged in experience. They very well may come to the same realization that we already have in 2 years or so...but it will take a level of hands on experience , adaptability, and leadership that most startups don't have. I'm proud to say that we do.
- Q: Thanks for the response. Of those 26K fully registered members what's the breakdown of successful rental transactions & repeat transactions? I understand that you have to get the word out, however, some initial numbers would be helpful to understand the baseline of current activity. I'm in the Atlanta metro region
  - A: No problem and thanks again for the great question... I will be sending you an email within the next 24 hours with some detail. I would post publicly but I need to get some clarification on wefunder disclosures first.
- Q: Any update???? It's ridiculous that founders take the money and don't keep investors up to date.
- Q: Great Idea; How do you enforce the financial liability involved with renting? Despite having a safety deposit, how do you prevent theft, how do you ensure repair of damage, and how do you prevent lenders from abusing their authority with deciding whether to keep or return damage deposits?
- Q: I like the idea (business model) but I'd like more color on how you plan on executing and bringing brand awareness. Thanks!
- Q: Do you have any plans to develop a website or is it app only?
  - A: A plan for a fully functional website is in the works and we plan to have it released next quarter
- Q: Good idea, but a few questions. 1. What are the differentiators from Offer-up, Loanables (https://www.loanables.com/), LetGo, etc. ? 2. What are the products you allow in renting? Are there prohibited items list? 3. How are you setting a price ceiling for each products that is rented out, to ensure if it's market price? 4. Are there any regulation for the users in setting up prices for each product? 5. What is the maximum allowed time allowed for renting for each product? 6. How is the quality and usability of the product or item rented is ensured by you between the renter and the rented? Are there any agreements made to the renter on ensuring the product quality, any fines? 7. The prices of the commodity in the market depreciates over time, how do you keep up with the market? (This mainly depends on my other question - maximum duration allowed for rent?) 8. How do you ensure the return of the rented out item back to the owner, on time? Is there any agreement/penalty on this?
  - A: 1. I'm not fully familiar with loanables, but it does seem like they have a similar model. However, it appears that they haven't yet been able to break out of the Austin TX area, and I didn't see a smartphone app product. In regards to Offerup, letgo, etc... we're focusing solely on items that people want to rent and rent out vs. items people want to sell. We think that it's important to have a platform that focuses on renting vs. selling. 2. We allow folks to rent or rent out anything of value with the exception of motor vehicles.... there are exceptions, of course, and we review each item listed to ensure that they comply with local laws and our terms of service. 3 and 4.. Owners choose their own pricing, and we give them market price suggestions when listing an item. 5. Renters can rent an item out for any amount of time as long as the owner is in agreement... we have a request button in the app that specifies the desired amount of time. Yes, each item submitted goes through an approval process where one of our team members manually reviews each product put up on the app. It only takes a few seconds for an item to be approved or rejected. This ensures that items comply with local laws and terms of service. 6. Each rental is carried out between the owner and renter, and the owner can set fees as long as they're stated in the listing. 7. We don't own inventory as we are a truly peer-to-peer market, so ideally, the market will reflect value. 8. We are insured and we monitor each rental. In the event that an owner is having trouble getting an item back, we have a system in place to locate the item and renter, and if need be, file an insurance claim. However, we've only had 1 issue in 2 years. I'd be happy to address in greater detail if you'd like. Please email me at info@getidle.com, and I'd be happy to chat.
- Q: Might have missed it in your pitch - revenue?
  - A: Available in our sec filing. thanks
- Q: Will you be converting to a C Corp in the foreseeable future? Before the SAFE trigger?
- Q: Hi Nic, Is there anyway I can talk to you? Future investor with some great ideas that will help the company expand tremendously. Thank you.
  - A: Sure, send an email to info@getidle.com and I'll be happy to schedule a meeting
- Q: Have you thought of tokenizing the app. To create a incentive for clicking on ADS?
  - A: Hey thanks so much for the question. Yes we have thought about it and are close to rolling something along those lines out.... That being said, we really want to have a customer first model so we really want to stay away from any annoying ads that takes away from the customer experience. The goal is to have ads that are useful. For instance, if a customer is searching for an item but we don't have it on the platform then and add for that item via another retailer would be appropriate.