Naspers, Africa’s biggest Internet firm, has invested in Joymode, a Los Angeles based innovator in the movement from ownership to access.
Joymode lets you access everything you need—but don’t own—for great experiences.
With Joymode, you reserve the experience that you’d like to enjoy. You can book your reservation on the same day you want the products, for a future week or weekend, or up to three months in advance if you’re a member.
Through Joymode, you can choose an experience like camping, and they’ll provide you with all the products you need (example: tent, sleeping pads, a stove, headlamps, etc.).
Naspers through its Naspers Ventures division has led the closing of $14.4 million Series A funding for Joymode with participation from previous investors.
Mike Katz of Naspers Ventures has joined Joymode’s board.
Joymode will use the capital to grow its talented team and expand its range of experiences available to members.
“We want to help create a world where you are no longer constrained by what you own” said Joe Fernandez, CEO of Joymode. “Our goal is to give you access to all the cool and helpful products you need to enable the experiences you want, without having to deal with the hassle of ownership.”
“We are seeing a generational shift, particularly in space-starved urban areas around the globe – people are renting not buying,” said Mike Katz, head of U.S. investments at Naspers Ventures. “However, no-one is effectively enabling that shift across the trillion-dollar recreation space, so the potential for Joymode is almost unlimited.”
Naspers owns stakes in companies in China, Brazil, Russia, US, and Europe.