Peerby, one of the Founder Institute's most promising Graduates, allows users to borrow items whether it be a power saw or a set of cocktail glasses from the people that live around them. The website and app have been very popular in Amsterdam since it launched several years ago. Since the initial launch, Peerby has gone international spreading all over Holland, and growing in popularity in Brooklyn, Berlin, Barcelona, Madrid, and other major international cities. The most commonly borrowed items thus far? The majority of people tend to borrow kitchen and camping supplies or household tools.
Peerby was founded by Amsterdam Founder Institute Graduate Daan Weddepohl. The idea came to him after a series of unfortunate events left him in a tight spot. First, his apartment burned down, then his girlfriend dumped him, and finally his mother became ill. Weddepohl, down on his luck, was forced to get by in any way he could crashing with friends and going without all of the things he enjoyed previously. Describing this period of his life Weddepohl says, "At first, having nothing was a terrible thing, but after a while I started accepting it and realizing that it was okay. It helped me create very strong human connections. People were happy to help me out, and they felt really good when they shared."
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Realizing how much that people were willing to help people in need of a little help, Weddepohl combined this with an idea he had been previously kicking around his head, a location-based messaging service. Helping people borrow essential items from fellow community members was a better idea for a messaging service of this kind than any other Weddepohl had, so Peerby was born.
People are social animals. We like to help each other out. Borrowing things is probably one of the oldest behaviors in nature, and we are just making it easier through technology. We created a platform that makes it easy for people to find that neighbor that's willing to lend what they need.
So how does the whole borrowing from your neighbors idea work in practice? Users sign up on Peerby and they list the items they are willing to share with users and they can also request items that they are in need of. Peerby then matches the user with the item with the user with the need. The two parties are able to chat and iron out the logistics. Through making exchanges like this people also are able to meet other people in their communities and get to know one another.
The sharing economy has been really popular in recent years with other services such as Airbnb and Relay Rides. Peerby seeks to expand the ideas of other services to items big and small. This idea also encourages consumers to throw away less of their things since they can be put to good use. As Weddepohl notes,
It makes you realize that a lot of things that you have you don't really need. Why would you want to own a power drill if you only use it once?
Since launching in 2011, Peerby has raised a total of $4,000,000 in funding over the course of seven rounds, expanded to several countries, and been featured on some of the world's top media channels (including the New York Times).
Currently, Peerby is free to use, but Weddepohl has plans to charge a small amount of money to use the site in the future as it continues to expand and gain popularity. The first payment idea he has is to give lenders an insurance option that would require borrowers to pay a dollar a day charge to insure that the lender's item is safe, Peerby would look to take a small cut of these dollar charges.
The important feature of Peerby is the request-based messaging aspect. The site and application are not merely lists of what people have to borrow. When you sign up with Peerby you can immediately start seeking out items that you need. Peerby notifies the lenders and puts the two parties in contact with on another.
