Sharing E Umbrella, a new umbrella sharing company based in Shenzhen, China, recently announced that it had lost most of the 300,000 umbrellas since it set up.
China's sharing economy has been growing rapidly, with companies offering anything from bicycles and basketballs to phone batteries for people to rent. Customers make a small deposit（押金）and get to use the thing for a daily cost, with a fine put in place for every day if they fail to return the product in time. It's a simple business model, and market data shows that people see sharing as a cheap and convenient way to cut down waste.
Zhao Shuping founded the Sharing E Umbrella, an umbrella sharing service, in April. By the end of June, he had already started in 11 major Chinese cities, including Shanghai, Nanjing and Guangzhou. While picking up the umbrellas was simple, as they were made available（可得到的）at bus and subway stations, the return system turned out to be a different matter. “Umbrellas are different from bicycles,” Mr. Zhao told Chinese news site thepaper.cn. “Bikes can be parked anywhere, but with an umbrella you need something to hang it on.”
So instead of bothering to return the umbrellas back to a station, a lot of people just took them home, and Sharing E Umbrella has reportedly lost track of most of the 300,000 umbrellas. Considering that borrowing umbrellas requires a 19 yuan deposit, with a fee of 0.50 yuan per half an hour usage, Zhao says that he suffers a loss of 60 yuan per lost umbrella, so the company is now in the red, but he is not ready to stop it just yet. Zhao announces that Sharing E Umbrella still plans to roll out（推出）30 million nationwide by the end of the year.
