Coinbase Looks To Boost Engineering Staff At Earn By Acquiring Rippled Backed Omni Rentals
Major crypto exchange Coinbase is presently in talks with the rental service company Omni that had raised $25M from San-Francisco primarily based – Ripple last year.
Omni is an online rental service firm founded by Thomas McLeod. It aims to provide access to the items that people may need through its rentals platform. Omni introduces a rental service wherein people in the same neighborhood and find items and rent it among themselves, from air mattresses to camping equipment, from bikes to air purifiers, various electronic devices and more. All the customers need to do is search with an appropriate keyword or explore the different categories according to their needs. Later, in exchange for the items that were rented, users may also earn cash whenever somebody rents out the item they offered.
Omni collaborated with XRP, due to which all earnings are often paid out to XRP wallet. This has made Omni the primary platform in the world that enables individuals to get XRP coins while not having to buy them via exchange.
Consultants believe that there are more potential investors and traders out there who are already acquainted with crypto, but they are unwilling to take the risks that come with it. But because Omni and XRP are operating along with each other, it eliminates the factor of risk for them and can easily invest. McLeod believes that will be a great way for curious people who wish to enter the crypto world, while not having to really invest in it.
However, Omni’s business didn’t perform well. To scale up the platform, Omni relied on local storefronts for pick up and drop off their items, however eventually, the firm caught with numerous complaints from its existing and new customers that have led the corporate to place Omni on an acquire-hire deal to Coinbase… Omni sold his storage business to Clutter, which bought users list a series of complaints like changes in the prices, items being misplaced, etc.
The company is in talks with Coinbase to hire a number of Omni’s engineering employees, who would have them work on Coinbase Earn, which rewards users with cryptocurrency for finishing online educational programs.
Omni had raised a total of $35M from investors such as Flybridge, Highland, Allen & Company, Founders Fund, Precursor, etc. As per TechCrunch, few employees who were interviewing at Coinbase said that there is no such deal on the table yet.