Question 1

Hi. What are your revenue goals for the next 5 years? How do users prove their items were broken or damaged by renters? For instance, non physical damage like a notebook or video game console that stops working.

Accepted Answer

Hi Leonardo, thank you for your questions. First, for the revenue goals, I would rather not share those here. I am happy to schedule a call to discuss. jason@yoodlize.com Second, We do have insurance for items listed for rent and are also working to increase insurance policies to provide better coverage. Anything that is wear-and-tear is not covered by insurance or the responsibility of the renter. Similar to your examples above. If it is normal usage, if it appears to be abuse, then the rent...

Question 2

I'm a bit mystified. Peer-to-peer lending of objects has been possible for awhile now through other mobile apps, e.g., Fat Llama. (1) How does your product/app/approach differ? (2) A big problem with item lending is that items don't get returned or get broken. How do you handl...

Accepted Answer

Jerry, thank you for your question. (1) We do have a few competitors, Fat Llama may be the most prevalent. We are very similar as far as functionality goes, with minor differences in UX/UI, so on the surface, we look similar, but in a different market. What really separates us is our go-to-market strategy. I think we have a totally different approach to who, what, where, when. I think we share the why with most competitors. (2) We have had better than expected success with these issues, we di...

Question 3

I sent you an email regarding revenue goals but haven't heard back from anyone.

Accepted Answer

Sent.

Question 4

How is this different from the other apps that exist in this space?

Accepted Answer

Our product is similar in many ways to our competitors, regardless, the small differences in revenue model, design, UX, UI, marketing strategy, etc., do add up. At the end of the day, there may be a couple of winners in this space, similar to Uber and Lyft, which are also very similar on the exterior. In my experience launching and running other successful businesses, is that the key to success is not the concept (idea) or product, but the execution. This is why the team is so important in ea...

Question 5

Jason, I really like your approach and philosophy, recognising how this idea fits with progressive social trends for less stuff and more community. The big question is what has prevented this kind of generic rental marketplace from taking off before, whereas there have been ma...

Accepted Answer

Iain, thank you for your question and for taking the time to articulate it clearly. This is a complex question with multiple variables, but we do have our theories. Some of which revolve around timing. It is clear that we are changing as a society, falling out of love with our things, and starting to value experiences more. However, our behavioral evolution is a process, there are still a lot of people that connect their identity with things they own. But, we are evolving, as evident by subsc...

yoodlize

Yoodlize is a peer-to-peer rental platform

$300

yoodlize

Quick facts

Team profiles

Featured investor profiles

$300