Weep for the Umbrella-Sharing Start-Up That Lost 300,000 Umbrellas In Three Months

An umbrella-sharing start-up in China has lost almost all of its 300,000 umbrellas since launching in April.

It is the most obvious result to a misguided enterprise since Zosia Mamet tried to Kickstart a music video based around her body percussion.

The Chinese company, E Umbrella, set up rental stands across 11 Chinese cities, allowing customers to collect an umbrella with a deposit of 19 yuan ($AUD3.67), charging another half yuan (ten Aussie cents) for every additional 30 minutes the umbrella is required.

Renters could arrange payment via an app, which gave them a four-digit unlock code for a specific umbella at a nearby stand.

The main problem with the business, according to founder Zhao Shuping (as reported by South China Morning Post), was that no one seemed to know where to drop the umbrellas off afterwards. It also, perhaps foolishly, failed to charge a fee for any ‘unreturned’ umbrellas.

Hence, almost 300,000 missing brollies in just 90 days.

Zhao still has big plans for E Umbrella, plotting to make 30 million umbrellas available by the end of the year.

The company began working from an investment of 10 million yuan ($AUD1,930,713). It is not known how much is left in the kitty. Here’s hoping… they have a rainy day fund.

Photo: CYOL