Lumoid, a startup that offered photography gear and other gadgets for rent, has been officially shut down. The process had actually been underway for months, but was only officially revealed to the public late last week.

According to company founder Aarthi Ramamurthy, who recently posted about the matter on Facebook, the team had "gradually wound down Lumoid" over the last four months, including selling its IP and assets.

The Lumoid website is still live and showing various gadget rental categories; however, clicking on any given rental item shows that it is no longer in stock. Speaking to TechCrunch, Ramamurthy indicated that it was Lumoid's deal with Best Buy earlier this year that led to the decision to close the service down. The company was ultimately unable to get the money it needed to scale up the business to meet Best Buy's needs.

Though Lumoid is gone, other camera and lens rental services remain, including the newly merged Lensrentals and LensProTogo, and Borrow Lenses.

2017-12-11 22:26