Saturday March 11th 2006, 8:27 am
Seattle based Bag Borrow or Steal, which raised $8.25 million Series B funding this week, is a great example of “cross-pollination innovation.” The company utilizes the Netflix subscription model to loan a wide variety of designer bags to consumers for cost efficient enjoyment. Monthly subscription pricing depends on the quality of bags selected and ranges from $19.95 a month to $99.95 a month for the most expensive and exclusive bags in the collection. The company, founded in 2004, has several thousand members. A wide selection of jewelry and watches is coming soon.
[thanks, VentureWire]
April 20th, 2006 at 4:13 am
[…] 6) I like the business model behind Bag Borrow or Steal. A Technorati search for the company produces a lot of recent posts like this (40 days ago) and a tonne of older posts like this (279 days ago). […]
February 21st, 2008 at 9:09 am
This concept of borrowing is huge especially with a market targeted at women; there is a lot of money to be made. I read about it in an article and I think this is a great opportunity for women who cannot afford to buy the designer purses.