Exclusive: Nashville Startup RentStuff Acquired

We’ve been covering the wild, but awesome ride that Nashville startup RentStuff has been on since May. RentStuff is a 2011 graduate of the JumpStart Foundry startup accelerator in music city.

Over the summer the Nashville startup relocated to the 1871 startup incubator in Chicago.

RentStuff started off as a peer to peer rental platform. Got a lawn mower rotting away in the garage. You could use RentStuff to rent it out to someone who needed it for a few days. Items like iPads, DSLR cameras and even powerful leaf blowers could be found at RentStuff.

In August the RentStuff team, led by Chris Jaeger, pivoted away from that model in favor of a more traditional rental search utility. Jaeger told us then that they would continue to support both platforms however the original model, despite rave reviews, wasn’t scaling fast enough. You could find a lawnmower for rent in Nashville and a DSLR camera in Pennsylvania, with the people who actually wanted to rent them hundreds of miles away.

Today we found out that RentStuff has been acquired by RentalCompare, the largest searchable database of things to rent across the country. Terms of the sale were not disclosed by press time.

Jaeger has always been a big proponent of the Nashville startup scene, especially the Entrepreneur Center and JumpStart Foundry. Tennessee venture firm Solidus backs several Tennessee accelerators including JumpStart Foundry and also participated in a follow on round for RentStuff.

RentStuff alerted their user base to their acquisition with the message below posted on their Facebook page:

Tennessee is a great place to startup, apply now for the Seed Hatchery accelerator click here

Linkage:

Find RentStuff Here

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Jumpstart Foundry Nashville Startup Rentstuff.com Moves To Chicago & Pivots Away From Core

Earlier this year we brought you an interview with Rentstuff co-founder Chris Yaeger. The Nashville startup had quickly rose to prominence in the peer to peer renting category, with the idea they cultivated as part of the JumpStart Foundry program.

With $600,000 raised to help them along the way the startup relocated to Chicago’s 1871 in July and debuted their Chicago based team at TechWeek earlier this summer.

Their original idea, had a lot of holes in it in terms of insurance to the renter, and market viability but the concept was rock solid. One user could rent that DSLR camera that sits in the closed for $30-$50 a day to their local neighbor and make a few bucks on the side. You may have even been able to go as far as to call the idea “AirBnB for Stuff”.

At last look you could find anything from tents and sleeping bags, to weed-eaters and iPads. While I admitted to a friend on the phone just the other night, I would never rent out my personal iPad, if there was a market for it, I may pick a used one up off Craigslist just to rent out on rentstuff.com.

While couchsurfing and AirBnB made it ok to crash at a complete strangers house or even on their couch, it seems that letting a complete stranger rent my crock pot, serving trays or video camera, wasn’t in the cards.

The company, now based in Chicago, has pivoted to a more mainstream, portal to connect folks with businesses in the “Rent To Own” industry like RentACenter and Aarons. Now, you go to rentstuff.com and you can fill out a form which lets you request rental quotes from local companies. You can attempt to rent anything from a limousine to a laptop, to a sofa, whatever you need you should be able to get it.

A note on the site tells you that letting a rental company call you can get the process done faster. Of course, bidding out your rental should also mean that you get better deals.

Call me crazy though, the original idea was much more innovative. In fact the crazy guys that produced the Wipple video below, used a leaf blower that they rented from the “rentstuff.com marketplace” to produce this video.

There is definitely a market for the new version of rentstuff, similar to the way that there is a market for the pivoted SpareFoot.com which we covered earlier this month.

Linkage:

Check out rentstuff.com new site here

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Nashville Startup: Interview With Rentstuff CEO Chris Jaeger

If you’ve got nice stuff that sits around a bit you can make money by renting. Say you have a mountain bike that you never use or perhaps a lawnmower that only gets a work out very two weeks? Well with rentstuff.com, a Nashville startup, your stuff can make money for you.

Rentstuff.com is a localized marketplace set up to help local people rent stuff to each other. Everything from dome tents to Dyson vacuum cleaners can be found for rent on rentstuff.com at a decent rate. The site even offers a quick calculator to show you an idea of what your stuff should rent for by the day.

The company protects your stuff by allowing you to charge a security deposit that puts the deposit amount on an authorization hold on the renters credit card. Provided everything goes well, the user gets their stuff back and the renter gets their deposit back. Rentstuff also has a community feedback system for renters and users. This way the renter knows that the person renting the property is trusted and vice versa.

We got a chance to interview the CEO of Rent Stuff, Chris Jaeger.

Who are the founders for rentstuff.com and what is your/are their backgrounds before starting rentstuff.com?

I founded RentStuff.com back in January 2010 along with my twin brother Robert Jaege (COO) and Adam Albright (CTO). Prior to starting the company, Robert and I were both working in Finance in New York City, and Adam was completing the first year of his MBA at Vanderbilt University in Nashville, TN. Robert and I connected with Adam through mutual friends.

How did you come up with the idea because it’s brilliant?

Robert and I came up with the initial concept back in 2008. We were both frustrated after spending countless hours trying to track down kayaks and bikes to rent for weekend trips from small rental shops all over New York City. At the time, we were both living in a high rise building and knew there was a good chance that someone in our building or at least in our neighborhood had what we needed. However, there was no organized system to easily connect people who had stuff with people who wanted access to that stuff on a temporary basis. Our company solves the need to connect renters and lenders in a better way.

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