Omni, the San Francisco-based peer-to-peer rental startup has officially brought its services to an end and shut down its website.

Omni announced this sad news in a recent letter posted online. In the letter, it thanked its supporters, while citing the difficulties involved in getting a startup off the ground.

The startup was one of the earliest investments made by Xpring. Being Ripple’s fundraising and development arm, Xpring is built to invest in, nurture, acquire and provide grants to emerging startups.

Ripple led a $25 million fundraising round for Omni back in January 2018. The company also included Omni in its list of initial companies supported by Xpring.

Omni offered its users the opportunity to rent items from one another via cash or the XRP cryptocurrency. Since its launch in 2014, the startup said it has been encouraging communities to share more and buy less. The letter states…

“After deep consideration, we’ve made the difficult decision to close our platform and end operations. More than anything, we want to say thank you to our customers, partners and community who have shown us a tremendous amount of love and support over the last five and a half years. Thank you for including Omni in life’s big moments, from birthday parties to family reunions to Friendsgivings, and joining us in an effort to reduce waste and enable more conscious consumerism. It’s been wonderful to share our dream with you and we hope you continue to seek out ways to access more and buy less.”

Before shutting down, Omni reportedly reached a deal with Coinbase to sell its engineering team to the US crypto exchange.

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