The brothers’ new venture, Pivot, offers customers furniture to rent for a $9.99 monthly membership fee, plus the rental cost of each piece of furniture. The company estimates it costs about $60 per month to furnish a one-bedroom apartment. The Saskatoon-based company launched in September 2018 and operates in Winnipeg and Saskatoon; the founders plan to expand across Canada eventually, but haven’t given a timeline for the expansion. (Globe and Mail)
Talking point: SkipTheDishes, a food-delivery app, sold to U.K.-based Just Eat for $200 million in December 2016. Its founders seem to have a knack for identifying markets to disrupt just before they get overcrowded. Last month, IKEA announced plans to launch a furniture rental program in all of its major markets by 2020. Carving out a space in the furniture-rental market now could set Pivot up nicely in the likely event institutional players like Ikea start eyeing acquisitions.