“Cloud of Goods,” the New Sharing Economy Platform, Selected as a Semifinalist at the 43North Business Ideas Competition

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Cloud of goods is on a mission to create massive economic value out of items people already own by enabling sharing of goods; "Think AirBnB or Uber, but for everything else."

Cloud of Goods - The Sharing Economy Platform

Cloud of Goods - The Sharing Economy Platform

There are billions of dollars worth of goods sitting idle in our homes. Cloud of Goods creates an opportunity to generate massive economic value out of these under-utilized assets.

Legions of sharing economy fans will rejoice after the announcement that Cloud of Goods, a re-launch of the once popular peer-to-peer sharing platform, Rentalic, was selected as a semifinalist at the “world’s largest business ideas competition”: 43North. With $5 million in cash prizes, including a top award of $1 million, six $500,000 awards and four $250,000 awards, 43North is helping entrepreneurs, startups and teams from across the globe turn their business ideas into reality in Buffalo, NY.

Cloud of Goods is an innovative web platform that enables people to share their everyday household goods including tools, sports & outdoor equipment, women’s clothing & accessories, party & event supplies for a fee. “We are out to create the AirBnB/Uber for everything else”, said Punsri Abeywickrema, CEO and founder of Cloud of Goods.

During Phase 1 (Rentalic), the platform garnered many awards including the prestigious PayPal X Developer Challenge grand innovation award and the attention of major media, such as Time Magazine, NBC TV, New York Times, Boston Globe, San Francisco Chronicle, etc. Using the learnings of Phase 1 combined with the recent Sharing Economy & On-Demand Economy trends, Cloud of Goods brings the promise of being the most progressive sharing technology platform.

“There are billions of dollars worth of goods sitting idle in our homes. The addiction of consumption has created huge inventory, collecting dust in storage. Also, the cost of ownership is expensive. Cloud of Goods creates an opportunity to generate massive economic value out of these under-utilized assets,” said Stacy Tran, the co-founder of Cloud of Goods.

“Beyond reducing consumption and advancing the culture of sharing, we are out to trigger the next industrial revolution. We envision the Cloud of Goods platform, combined with integrated technologies, will create a new breed of products that are shareable, durable and long-lasting. These sustainable products will generate recurring revenue streams instead of the traditional one-time sale for their owners. The Cloud of Goods team is excited to be the platform to facilitate this access over ownership trend,” said Mr. Abeywickrema.

Cloud of Goods is currently signing up early adopter users for the upcoming limited alpha launch. The platform will be initially launched for a limited audience in a few select cities in the United States, based on the number of early adopter registrants. Anybody who wish to participate in the limited launch can register at http://cloudofgoods.com

About Cloud of Goods:
CloudOfGoods.com, is a re-launch of the P2P sharing app rentalic. We aim to monetize the HUNDREDS OF BILLIONS worth of under-utilized assets by providing cutting edge web and mobile platform. Just like AirBnB monetized the unused rooms, we will monetize everything else that is under-utilized. Cloud of Goods is being incubated via IncubateLabs, a technology incubator founded by the Rentalic founder, Punsri Abeywickrema.
http://www.cloudofgoods.com/

About IncubateLabs:
IncubateLabs consists of a proven team of Silicon Valley technologists, advisors, and a team of offshore software engineers based in Colombo, Sri Lanka. Founded in 2012 by the Silicon Valley tech entrepreneur, Punsri Abeywickrema, IncubateLabs.com quickly positioned itself as the sought-after technology firm for many U.S. Silicon Valley entrepreneurs and startups to design and build their tech solutions. Today, we have grown beyond the Silicon Valley and are working with many entrepreneurs and startups in other parts of the U.S. as well as rest of the world. IncubateLabs.com is a registered corporation in the Unites States of America and Sri Lanka.
http://incubatelabs.com/

About Rentalic:
Rentalic, Inc. was a privately held company based in San Mateo, California. The company provided an innovative web platform that enabled person-to-person renting during 2010 to 2012. Popular rental items were women’s clothing & accessories, bikes, textbooks, power generators, mini-refrigerators, audio/video equipment, and more. Rentalic’s mission was to help people save money, make money, and save the environment by encouraging reuse and sharing through person-to-person renting. Rentalic shut down its website operations in 2012. To learn more, refer to Rentalic wikipedia page.

About 43North:
43North is the world’s largest business idea competition.

With $5 million in cash prizes, including a top award of $1 million, six $500,000 awards and four $250,000 awards, 43North is helping entrepreneurs, startups and teams from across the globe turn their business ideas into reality in Buffalo, NY. Winners also receive free incubator space for a year, guidance from mentors related to their field and access to other exciting incentive programs, like Start-Up NY, a program that enables companies to operate tax-free in New York State for 10 years.

43North is part of New York Governor Andrew Cuomo’s Buffalo Billion initiative, which is driving new economic opportunities throughout Buffalo and Western New York. The competition operates through the support of New York Power Authority and is part of Launch New York Inc.

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Punsri Abeywickrema

Stacy Tran
@cloudofgoods
since: 09/2015
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