Physical rental startup Omni is set to shut down its operations by end of 2019 after failing in its unsuccessful attempt to profit from equipment rentals and physical storage service.

“We’ll be winding down operations at Omni and closing the platform by the end of this year,” an Omni spokesperson told TechCrunch. “We are proud of what we built and incredibly thankful for everyone who supported our vision over the past five and a half years.” The company has not made an official announcement regarding its closure.



According to crunchbase, Omni is headquartered in San Francisco, California, and provides access to the things you need through its rentals platform. “By partnering with local businesses, Omni is bringing rentals to communities so everyone can have access to more items — from bikes and surfboards to camping equipment and air purifiers. Customers can reserve items from local businesses and pick up them instantly, or book rentals in advance.”

This latest news follows TechCrunch’s report in October that Omni had laid off operations teams members and was in talks to sell its engineering team to Coinbase. Omni had internally discussed informing its retail rental partners ahead of time that it would be shutting down. Meanwhile, it frantically worked to stop team members from contacting the press about the startup’s internal troubles.