INSUBCONTINENT EXCLUSIVE:
ShareGrid, the U.S.-based marketplace for sharing, buying and selling film and photography equipment, has acquired the U.K’s BorrowFox as
part of its international expansion plans.BorrowFox operates a “peer-to-peer” film and camera rental community that lets people rent
out their under-utilised gear
ShareGrid says it expects to launch in the U.K
in 2020 (where it will compete with the likes of Fat Lama).Terms of the deal remain undisclosed, although I understand ShareGrid is
acquiring all of BorrowFox’s assets outright
The two companies aren’t disclosing if it was a cash or stock deal or mixture of the two, or who BorrowFox’s investors were.Meanwhile,
I’m told that BorrowFox’s founders, Arthur Pierse and Alastair Woods, won’t be joining ShareGrid.In the U.S., ShareGrid lets users
rent film and camera equipment from each other, including cinema cameras, still cameras, lenses, audio equipment, drones, lighting
equipment, gimbals and other accessories, as well as studio space, locations and production vehicles.The idea behind the service is to help
creatives access world-class equipment at lower rental fees, and earn an income from their unused gear
The company also offers a buy-and-sell service, custom production quotes and instant insurance, acting as a “one-stop shop” for
filmmakers, photographers and production professionals.Following the acquisition, ShareGrid says it will host more than 100,000 users, with
more than $1 billion worth of film and camera equipment available on its combined platform
Once the acquisition is complete and ShareGrid has launched in the U.K., existing BorrowFox members will be asked to transfer their account
to ShareGrid.“At ShareGrid, our mission is to enable all filmmakers and photographers, regardless of background, budget or location, to
have access to cutting-edge and affordable equipment,” says Marius Ciocirlan, co-founder and CEO of ShareGrid in a statement
“We see the acquisition of BorrowFox as an exciting opportunity to enter the U.K
market, and build on a company that has had a similar vision from the start.”
