Why Do Sharing Platforms Fail? – Lessons from Discontinued Projects

Over the past decade, several platforms designed to help people share and lend items have shut down for good. Thangs, WhyOwnIt, Fairleihen.de, and Frents.com are just a few examples of how difficult it is to build a sustainable solution for the sharing economy.

Why did these projects fail? And what does BORO do differently? We looked into the background and share the lessons we have drawn from them.

What BORO does differently

Before examining the discontinued platforms, it helps to understand BORO’s approach. We deliberately chose a private network model over an open community. That means:

• You decide who can see your items — only friends, or friends of friends.
• Sharing takes place in a familiar environment where connections already exist between people.
• BORO is available as a web app that works on all devices — no installation, no platform lock-in.

This approach differs fundamentally from many of the platforms that shut down. Let us look at what went wrong for them.

Frents.com – The problem was not big enough

Frents.com was one of the early lending platforms in Germany. Founded in 2007, it reportedly had over 20,000 members and around 50,000 listed items. Despite these impressive numbers and backing from business angels, the service was discontinued after ten years of operation.

The Frents.com team cited their main reason: the problem they were trying to solve was not significant enough in their environment. After a decade of running the platform, they found that demand for such a service was insufficient to sustain it long-term.

What can we learn from this? A large user base alone is not enough if the underlying need is not strong enough. With BORO, we take a different approach: instead of building a large, anonymous community, we focus on small, trusted networks where sharing already happens informally — just without digital support.

Fairleihen.de – Ten years of operation, then closure

Fairleihen.de was operated by a Berlin-based social enterprise and was active from 2012 to 2022. The platform enabled neighbourhood lending and had an engaged community.

Although the exact reasons for shutting down are not publicly documented, a closure after ten years suggests classic challenges: operating costs that could not be covered by revenue, or declining user activity that no longer justified continued operation.

Many lending platforms struggle with monetisation: should users pay per transaction? Are commissions charged? Is advertising revenue the model? With BORO, we consciously chose not to pursue a complex business model. BORO is a hobby project born from the desire to simplify sharing among friends — without the pressure of needing to be profitable.

Thangs – Insufficient user engagement

Thangs was a platform focused on exchanging 3D models and designs. Although parts of the site are still reachable, active operation has ceased. The precise reasons are not publicly known, but evidence points to insufficient user engagement and financial difficulties.

The challenge for many sharing platforms: they need a critical mass of active users to remain attractive. When too few people use the platform regularly, a downward spiral begins — less supply leads to less demand, which leads to even less supply.

With BORO, we solve this differently: by focusing on private networks where people already know each other, engagement is naturally higher. You are not lending to strangers — you are lending to people with whom a relationship already exists, making sharing feel more natural and sustainable.

WhyOwnIt – Profitability and investors

WhyOwnIt was another platform aimed at enabling sharing and lending. The full circumstances of its closure are not completely documented, but it is widely suggested that insufficient profitability and difficulty attracting investors led to its shutdown.

Many sharing platforms face the same dilemma: to grow, they need investment. To attract investment, they need to show growth. If growth stalls, it becomes very hard to keep things running.

BORO takes a different path: as a hobby project without external investors, we can focus on what really matters — a simple, working solution for sharing within private circles. Without pressure to grow fast, we can develop slowly and sustainably.

Common challenges — and how BORO addresses them

From the experience of these discontinued platforms, several shared challenges emerge:

1. Trust between strangers

Many platforms were built around open communities where people lent items to strangers. That requires a high degree of trust and can deter potential users.

With BORO: We rely on private networks where people already know each other. Trust is already there — BORO simply makes the organisation easier.

2. Monetisation

Finding a revenue model for a lending platform is hard. Commissions can put users off; advertising can degrade the experience.

With BORO: As a hobby project, we do not need to be profitable. BORO is free and will stay free — no hidden costs, no complex business models.

3. Critical mass

Many platforms fail because they cannot attract enough active users to remain attractive.

With BORO: By focusing on small, private networks, the critical mass required is much smaller. Even a group of ten friends can use BORO successfully — without depending on thousands of people joining the platform.

4. Complexity

Some platforms try to offer too many features, making them complicated to use.

With BORO: We focus on the essentials — lending, gifting, searching. The BORO web app is deliberately kept simple so that people who are not early adopters can still find their way around.

What defines BORO

From the experience of discontinued platforms, we have drawn important lessons. BORO differs in several ways:

• Private network instead of open community: You decide who sees your items — only people you know or trust.
• No pressure to monetise: As a hobby project, we can focus on what really matters — a working solution.
• Simplicity over complexity: BORO offers exactly the features you need, without overloading the experience.
• Platform independence: The web app works on all devices, without installation or OS lock-in.

Conclusion: why BORO is different

The discontinued platforms show just how hard it is to build a sustainable lending platform. Many fail because of monetisation challenges, lack of trust between strangers, or because the problem was not significant enough in their target market.

BORO takes a different approach: instead of building a large, open community, we focus on private networks of people who already know each other. Instead of complex business models, we rely on simplicity and clarity. And instead of chasing fast growth, we can focus on building a sustainable, working solution.

If you want to try BORO, simply open the web app in your browser — free, no installation required, no hidden costs. Experience what sharing in a private network can look like.