NeighborGoods Sold to Brooklyn-Based Socius Labs

neighborgoods-acquired“A little less than a year ago, the platform–which makes it easy for neighbors to lend one another tools and other things your neighbors probably have lying around–was on the verge of shutting down because of a lack of funding. But on Tuesday, founder Micki Krimmel sent an email to her entire listserv with an important announcement: NeighborGoods has been acquired by the Brooklyn-based incubator Socius Labs.”

Stuff sharing NeighborGoods is one of the first U.S.-based web platforms to help people lend one another goods to others nearby for a rental fee. NeighborGoods has been struggling to survive since the beginning and I think there is good reason – sharing stuff is notoriously difficult since there has to be enough of an incentive for people to spend the time meeting every time an item is borrowed or returned. And getting a critical mass of “stuff sharers” in the same geographic area is also a hurdle to overcome – no one wants to list their items on a website that looks like an empty room and conversely, people won’t attempt to borrow if there is nothing of interest in their area. The acquisition makes sense as Socius Labs was looking to build a similar product and NeighborGoods already has 30,000 registered users.

Check out the full story on FastCompany.

5 thoughts on “NeighborGoods Sold to Brooklyn-Based Socius Labs

  1. A digital currency like masterbucks could enhance the use of a collaborative consumption programs like NeighborGoods. By creating an alternative currency through which neighborhood owners could barter some of the tools & stuff they don’t need or use in order to purchase or rent other needed items, a significant market inefficiency would be removed, to the benefit of the entire neighbourhood.

  2. Great post Chelsea! Make sense for the investors. Hoping they can develop a great product, as they promise “share reinvented”.
    Time to wait and see, =)

    Founder of Coomuna

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