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RentSetGo caught on camera by CNBC Awaaz!

What started out as a normal day at work soon turned  out to be a “Lights, Camera, Action” kinda day for us! When CNBC Awaaz representatives visited RentSetGo abode and captured our story on camera to spread the word around the town! New face of sharing economy is witnessed when you get high- end bicycles, camera and camera accessories and camping gear all at your doorstep to make your trips more exciting.

Catch the sneak peak of the chat with CNBC Awaaz : https://www.youtube.com/watch?v=24PgrP8E_PI

Watch out our space on Facebook and Twitter for the full version!

CNBC

 

Caught on Camera- Sunith Reddy

Caught on Camera- Sunith Reddy

Caught on Camera- Shruti Ajmera Reddy

Caught on Camera- Shruti Ajmera Reddy

Check out RentSetGo and get bicycles, cameras, tents and much more on rent and make your trips exciting!

Which bicycle to choose? Know about the cycle types!

In order to achieve a healthier lifestyle, people are shifting towards cycling. It’s not only good for health, but as we ride to our destination we also contribute  towards a cleaner environment. That’s why one bicycle trip around the town never hurts anyone!

We have complied a list of types of the bicycles for you! If you are confused which one to ride, this is your go to guide to make the perfect choice and rent bicycles to pick the healthier ride!

1. Road bikes:
These bikes are made for travelling at speed on paved road. Along with being light-weighted and with tires designed to decrease the rolling resistance, road bikes make a perfect companion for simple beginner rides.

Fomas Road King - Road bike

Fomas Road King – Road bike*
Image Source: Jyoticycle

2. Mountain bikes:
Also known as MTB or ATB, these are sturdy bicycles all made to make your rides across mountain ranges or unpaved environments thrilling! Their construction is different from normal bikes due to the inclusion of suspension on the frame and fork, larger tires, more durable heavy duty wheels, more powerful brakes, and lower gear ratios needed for steep grades with poor traction.

Urban Trail Agyle- mountain bike

Urban Trail Agyle- mountain bike*
Image source: Choosemybicycle

3. Hybrid bikes:
This type of bicycles is durable for a wide range of conditions and applications. Due to their stability, comfort and ease of use makes these bicycles useful for pro as well as amateur cyclists.

Montra Trance- Hybrid Bike

Montra Trance- hybrid bike*
Image Source: Montra.in

4. Non-Geared:
These bicycles are light-weigh compared to any of their geared counterparts. Their drivetrain is more mechanically efficient than any other bicycle drivetrain, with the most direct power transfer from rider to the wheels.

BSA Photon* - Non geared bike

BSA Photon – Non geared bike*
Image source: bsahercules.com

5. Tandem bicycle:
The tandem bicycle or twin is a form of bicycle designed to be ridden by more than one person.  Compared to a conventional bicycle, a tandem has double the pedalling power, without necessarily doubling the speed, and with only slightly more frictional loss in the drivetrain.

Rent Tandem bicycle

BSA Tandem Duo – Tandem Bicycle*

*Rent these bicycles through RentSetGo to set on an adventurous journey and adapt a healthier lifestyle!

 

That Ride with India!

There could not have been any another morning more perfect than the sunny morning of 6th September when the whole India was cycling across their respective areas feeling the cool breeze and experiencing the joy of riding!

I Ride with India–  an initiative by cyclingindia, a nation wide campaign that brought together all the cycling enthusiasts to send across one message- a healthier India. Supporting this campaign RentSetGo  set on a mission fulfill the cycling dream of these enthusiasts by sharing our amazing bicycles! From Thane to Powai, we moved around the town spreading the happiness!

Here’s a sneak peak of our happy customers!

Susheela Rao, from Thane got 4 bicycles for herself and her friends

Susheela Rao from Thane got 4 bicycles for herself and her friends

Kunjan Dedhia from Chembur with his rented Montra Rock 1.0

Kunjan Dedhia from Chembur with his rented Montra Rock 1.0

Ravinder from Powai got two bicycles for herself and her friend!

Ravinder from Powai got two bicycles for herself and her friend!

Don’t wait up for another campaign to go on cycling, order your own favorite bicycles today and start on your mission to become a healthier nation!

Order a Montra Rock 1.0* or Firefox Fusion* or Hero Street Racer* today from the app!

*You can check out these gears and many more cool products through your android phone! Get the app here, start browsing and experience joy!

When you are on a bicycle, the world looks different!

RentSetGo was happy to partner with adventure travel operator for a bicycle trip from Karjat to Kondhana caves. It was a memorable experience for us as we added thrill to a weekend of some crazy travel enthusiasts!

Lined up just before the ride

All lined up for the ride

“One of the craziest outing till date for me because of the craziest people in the group. Most of them were not regular riders still the enthusiasm was on its peak. The route was beautiful and scenery was just amazing. Cycling in rain was a great experience” says Kedar Kalamkar who led this biking trip. 

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Amazing cycling enthusiasts

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The joy of riding

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Travelers with impeccable levels of energy!

The beauty that is at Kondhana caves!

The beauty that is at Kondhana caves!

“Everyone was comfortable with their cycles and had the real cycling fun during the whole ride!” added Kedar.

You can also ride and get closer to the nature with the an amazing range of bicycles! Rent away from RentSetGo today and have a thrilling weekend!

Sharing the spirit of Independence with the world – Mumbai style!

RentSetGo set on yet another adventurous journey painting the town with tri-color and sharing the spirit of Independence with amazing thrill seekers from AIESEC, Mumbai on the Discover Mumbai Weekender!

When students from different parts of the world come to witness Mumbai on Independence day, what better way would be there to set on a bicycle ride on the streets of South Bombay at midnight where the view was as stunning as it could get!

tri-color

Tri-colored!

AIESEC

Rent. Set. Go! Discovering Mumbai the sharing way!

What are you waiting for?! Put your adventure socks on! Get a bike from RentSetGo and discover Mumbai to experience thrill!

Never too young to lead!

‘Start-up’ isn’t just a buzzword anymore – it has evolved to define the working youth culture of today. A start-up is what happens when smart folks gauge our needs before we do, and see a concept through to reality. If you have a specific problem or a requirement, chances are there’s probably a start-up for it.

On occasion of International Youth Day, join the interactive session with some young entrepreneurs, including a talk by our very own CEO Shruti Ajmera Reddy to get inspired and get insights into the start-up ecosystem.

The Young Turks

The Young Turks Common Room interactions will be on the following themes:

1. Entering the Start-up Era: Risks and Benefits
2. Staying Ahead of Your Competitors
3. Innovation: The Key to Success for Every Business
4. Customer Relationship Management: Striving for Customer Satisfaction
5. Personal Success Stories

Join us at The Hive, Bandra on Wednesday, 12th August at 5PM and engage in meaningful conversation with The Young Turks.

Register here – http://bit.ly/TheYoungTurks_Mumbai

Check out Common Room: The Young Turks event page for more details.
*This event is open to students only.

A ride to Kanheri with IIT-B Cycling club

Team RentSetGo joined the IIT-Bombay cycling club for a 50 km biking trip to Kanheri led by our inspirational mentor Anil Uchil!

 

[robo-gallery id=”82″]

Get the app here, start browsing and experience joy!

 

 

RentSetGo in conversation with E-cell, IIT-Bombay

Rent what an MRP didn’t let you buy!

The ridiculously expensive beach hat for a beach outing, the branded cricket helmet for the match with office colleagues, the exorbitantly priced mini telescope for a star-gazing outing, the DSLR Camera for your trip to the National Park – They rarely make it to the ‘worth buying’ stage.

It’s an obvious tendency, not to ‘purchase’ the things you know that won’t be worth the price you’ll have to pay. Something similar happened with Shruti and Sunith who wanted to go for an ‘outdoor trip’ – a biking trip to Kerala. They’d shortlisted some ​over 30​ bikes based on their own research & suggestions from friends. However, each bike ​, that could handle such a trip,​ was costing around ​Rs.50,000 to them – and they needed 2 of them – which meant an investment of Rs. 1 Lakh, for a month long tour only on the bikes! They bargained, visited multiple stores – and one of them offered them the bikes on rent for Rs.5000 a month!

Sunith is a Tech Wiz, founder at iRageCapital & QuantInsti. Shruti has been involved in mentoring entrepreneurs, leading investment deals & judging several start-up competitions ​ with her stint at Mumbai Angels​. The Idea struck. And RentSetGo was founded!

“RoI on renting is very high. Nothing goes wrong with sturdy goods. Like Adventure Camping equipment – You do not damage it by using it. Cameras as well – they have a very long life. We want to use up the rarely used idle inventory”, says Shruti. They ​started out as a “garage startup” and now have graduated to the next level.

So how exactly does RentSetGo function?

“We’re here to resolve the hassles around lending​ and borrowing​. We have a comprehensive curating process. We ​are building a trusted community on our platform – it’s a basic necessity without which people would neither rent nor borrow. The App is available on an invite-only basis for now. We assign a credit score to each user. That way, you can approach your targets smartly”, adds Sunith

​Logistics plays a crucial role in this startup.​  They already have ​10​00  people on waitlist for the invite code. The team is currently small, and the demands and expectations are huge. There’s a void that can seemingly be filled by these guys. So RentSetGo is now on a hiring spree!

The concept is amazing – the​ cycling club, the​ Photography Club & The Adventure Club of IIT Bombay have already tied up with RentSetGo for renting DSLR Cameras, Lenses, Bicycles, adventure gear ​etc. They were Eureka! semi finalists, and according to Shruti, “Networking event was very interesting as we received valuable feedback from peers and mentors. It was overall a good experience.”

Why share just knowledge and gyaan, when you can share other cool stuff as well?

Original Post : http://ecell.in/blog/rent-what-an-mrp-didnt-let-you-buy/

In the God’s own Country

Memories from the biking trip across Kerala by Sunith and Shruti.

Gears Used:

Bike: Scott Aspect 740*

Camera: Canon 600D with 18-55mm lens*

Additional gear: Nike+ GPS watch*

 

[robo-gallery id=”44″]

 

*You can check out these gears and many more cool products through your android phone! Get the app here, start browsing and experience joy!

The currency of trust and how companies like eBay and Airbnb mint it?

Sharing economy or collaborative consumption opened doors to many entrepreneurs to fully utilize their underutilized assets, skills, space or time. It has created digital marketplaces for offline services through Uber, AirBnb, ebay etc to exchange value at an unprecedented scale.

Although technology plays a crucial role in this economy, the very foundation of it lies in something more human-Trust. This secret ingredient empowers users to identify and interact with each other safely. Since it’s such a crucial part of what we do at RentSetGo, I would like to share my two cents on it.

Before the Internet, the traditional way of building trust in retail transactions relied on 8 factors, identified in a paper by P. Resnick and R.Zeckhauser[1] (2001) titled: “Trust Among Strangers in Internet Transactions: Empirical Analysis of eBay’s Reputation System”. Quoting from the paper, the attributes of building trust traditionally are:

(1) Most retail transactions are conducted locally, which gives individuals the opportunity to inspect them, as say with fruit in a rural market. If quality is discernible, no trust is needed.

(2) Retail operations tend to be large relative to their local market, be they vegetable sellers or the local department store. Buyers have frequent interaction with the same seller, and learn whom they can trust.

(3) Even when one’s personal interactions are limited, given that a retailer’s sales are concentrated in a locale makes it easy to develop reputations so customers learn about retailers from their peers.

(4) Retailer reputations are borrowed from other contexts. For example, retailers are likely to be pillars of the church and community, and would be highly reluctant to sacrifice the status that comes from such reputations.

(5) Reputations are built over many years; witness the reputations of Sotheby’s and Christies, the leading auction houses, which are hundreds of years old.

(6) Reputations are borrowed from others. Thus celebrities will attest to the quality of products.

(7) New goods benefit from established brand names, and policing of quality by those who own them. The product, not the retailer, wins the reputation.

(8) Significant expenditures – e.g., building a fancy store on Manhattan’s Fifth Avenue– indicates that one will be reliable, lest this expenditure be wasted, a form of signaling.

However, with the advent of Internet, things changed drastically. Buyers-sellers or hosts-travellers or lenders-borrowers in a sharing economy don’t normally know each other from Adam or in most cases, never even meet. Products sold, at times, don’t even have brand names to back them while customers rarely repeat and do not run into each other. So how do online marketplaces like eBay, Amazon or sharing economy poster boys like Airbnb and Uber really work and build trust within their communities?

Lets take a quick look into how 2 top players in their respective fields have managed to crack this problem.

eBay:

One of the earliest and best known Internet reputation systems is run by eBay, which gathers comments from buyers and sellers about each other after each transaction.

  • The feedback system allowed sellers to build their reputation from satisfied buyers and spread the word to a large population of potential customers through Internet at almost negligible cost.
  • Empirical evidence suggests that, more than half the transactions received buyer feedback, most of which was positive, fostering positivity and virality into the community.
  • Most importantly, as the participants believed this system was working, it deterred sellers from behaving badly, as it could result in a negative feedback and would be damaging to their reputation, hence future sales.

Airbnb:

In addition to the perks of the Internet that eBay enjoyed, Airbnb benefitted from the rise of social networks, which added another layer of identity to its members, fostering trust in the community.

As Airbnb CEO Brian Chesky puts it, “Trust, mediated by technology, is making a comeback. It’s what’s motivating millions of people in tens of thousands of cities around the world to book lodging with semi-screened strangers through this service.” Recent updates to the Airbnb review and rating systems have been implemented to extract more honest and accurate reviews from both the travellers and the host, that in the end benefit the Airbnb community at large.

  • To enable both the host and the travelers to leave honest reviews (praise and criticism) Airbnb now reveals their reviews simultaneously to each other after the trip has been completed. That way neither is affected by the other’s bias
  • As 90% of their reviews come within 2 weeks of travel they have shortened the review submission period to 14days, so that all the feedback is based on recent impression

Like these companies, others such as Amazon, Uber, TaskRabbit, Etsy, Threadflip etc have built impressive reputation models to support their communities and foster a trustworthy environment. Similarly, RentSetGo tracks user behavior through multiple data points and assigns ranks to its members using a proprietary algorithm in the backend. This helps in weeding out poorly rated members from the system and rewards good behavior by assigning higher search ranking on the platform.

In many ways, these reputation models form the core of any business based on sharing economy. These models have evolved considerably over the last decade and continue to do so with help of network effects, mobile and Internet penetration leading to the growing acceptance of such peer-to-peer businesses, and creating a cyclical, snowball effect. Reputation models leveraged by technology are the essence of the sharing economy and the future of this industry depends on how well we are able to extract the value of this currency of trust for the community.

[1] http://presnick.people.si.umich.edu/papers/ebayNBER/RZNBERBodegaBay.pdf

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