By Martin Gøttske
Basketballs, bicycles, cars, portable chargers and even umbrellas. These days it seems that China’s nascent but diverse sharing economy can support almost any type of product and venture cash is rushing in, providing tens of millions of yuan in recent months for start-ups.
Umbrella-sharing app E-umbrella became one of the latest favourites of venture financiers after raising 1.5 million USD last week. The start-up plans to unfold some 30 million umbrellas both at home and abroad this year that customers will be able to rent.
It is estimated that China’s sharing economy was worth nearly 4 trillion yuan last year, up 76 per cent from 2015.