LA’s durable goods rental service, Joymode, offers to the NYC retail financial investment firm, XRC Labs

LA’s durable goods rental service, Joymode, offers to the NYC retail financial investment firm, XRC Labs

After raising$15 million in funding from one of technology’s most successful worldwide investment firms, the Los Angeles-based consumer goods rental business Joymode is offering itself to an early-stage retail financial investment firm out of New york city, XRC Labs. Joymode’s founder Joe Fernandez will advance as an advisor to Joymode as the business moves to […]
At Joymode, the problem was that the business was owning the stock, which produced a high fixed expense. Eventually, Joymode members conserved $50 million by utilizing Joymode to rent items rather than purchasing them. For Anthos, the finest corollary to Joymode’s company might be the rental business at Home Depot. Joymode was backed by TenOneTen, Wonder, Struck Ventures, Homebrew and Naspers(now Prosus). …