The PaaS industry and the circular economy are being driven by millennials. They have been restructuring and disrupting long established industries to mold them into their unique lifestyle.
Software as a Service (SaaS) is a cloud-based software application that users access via the internet. It is cloud-based and users no longer have to purchase expensive software nor download them to their desktop, laptop, or computer network after a costly one-time purchase. The software application could be anything from a gaming software to a business application.
To rent or lease heaters is now a thing, especially in Japan where heating as a service has become commonplace. The business of renting out heaters was introduced by a Japanese company in 2001. Since then, the company has continued the approach of selling a service, aside from just selling heating appliances. This business practice is now called “product as a service” or PaaS.
IKEA plans to roll out a Product as a Service business model wherein clients can rent Furniture as a Service instead of purchasing fixtures. It’s a bid that appeals to a younger clientele and everyone who is concerned about the cost of ownership when furnishing a home or office. It is also a move towards a circular economy that involves returning old furniture to IKEA for refurbishing and re-selling.
Upon launching the website it is clear that Canoo doesn’t want to be another electric vehicle startup. The first thing you’ll see is the payoff “Your electric vehicle membership”. Their goal isn’t to sell you an electric car but a quick, easy and affordable means of personal mobility. Their service and product are all designed …
Young children grow out of clothing fast and good clothing doesn’t come cheap. Furthermore, the short lifespan of the clothing is also a major environmental burden. For the company Circos these where important motivations to launch its subscription service. The startup has launched its service in the Netherlands and Denmark this month to offer a …