The site may not have many fans here, but apparently there is people who believe in this business model. Like the ones who provided over 8 mil in venture capital to BBoS. Props!Bag Borrow or Steal often gets compared to Netflix. And when you look at the business model you can see the similarities.
The difference is that Bag Borrow or Steal -- which moved its headquarters from Florida toSeattle last summer and today is announcing $8.25 million in venture capital financing -- is focused on renting high-end designer handbags. With the latest capital infusion from Madrona Venture Group and others, it plans to expand the concept of "luxury borrowing" to include watches and jewelry. A name change also might be in the works.