Omni’s mission was to set about disrupting the concept of modern day consumerism and ownership by building a marketplace based on renting other peoples’ possessions.
For example, in the US, 110 million people own a power drill yet it is only being used for under an hour in its lifespan. Omni set about to change the way we view products and ownership.
If you need a drone, kayak, or high end camera four times per year, renting one for $50 a weekend means you can “own” it on a short term basis. Paying $200 vs a $2,000 purchase? It obviously makes sense when you consider the utility you get out of the product.
Building Omni’s Android Application
Omni raised $25 million in a funding round led by Ripple executives Stefan Thomas and Chris Larsen, who invested an undisclosed amount of XRP. JYST Creative were contracted to build the Android application for OMNI.
In 2019, Omni’s storage business was acquired by Clutter, and later were part of an acqui-hire from Coinbase.