Lensrentals Acquires BorrowLenses, Two Giants in Photographic and Video Equipment Rentals Come Together
{” “}- By Lisa Brown
Lensrentals, one of the leading online rental services for photo, video, audio, and lighting equipment, has announced its acquisition of BorrowLenses, a major competitor in the same space. This move comes as no surprise as both companies operate in a highly competitive market with no clear advantage over the other.
Neither Lensrentals nor BorrowLenses has disclosed the terms of the deal, but insiders suggest that it is an all-cash acquisition.
BorrowLenses has had a unique journey, having been acquired by Shutterfly ten years ago when the company was still a publicly traded entity. However, Shutterfly was later acquired by Apollo, the same company that purchased Yahoo and now owns TechCrunch.
Founded in 2006, Lensrentals has surpassed BorrowLenses in terms of staff and customer base. Based in Tennessee, Lensrentals has earned a reputation for being a great place to work, as it is partly employee-owned, and for providing exceptional customer care.
CEO of Lensrentals, Tyler Beckman, states that the two companies have always been “friendly rivals” that pushed each other to be the best. He sees this acquisition as a chance to leverage the benefits of operating at a larger scale and is confident that BorrowLenses customers will experience the exceptional service that Lensrentals is known for.
It is unclear how the acquisition will affect job security for BorrowLenses employees or the fate of the San Carlos location. According to insiders, the acquisition is happening swiftly, and the Lensrentals team is currently evaluating whether to retain the employees and location or not.
BorrowLenses offers a wide range of equipment, which will now be integrated into Lensrentals’ existing inventory of over 400,000 rentable items across 6,000 different lenses, cameras, drones, lighting, audio, and studio equipment. This has allowed BorrowLenses to compete with local camera rental businesses by providing fast nationwide shipping and comprehensive insurance.
The company also introduced the Lensrentals Keeper Program, where customers can purchase gear they have rented at a discounted price. This program has been well-received by photographers as it provides a low-risk way to buy secondhand equipment. It is possible that the newly merged company will start liquidating excess gear, making it the perfect time to keep an eye out for great offers.
Similar to Lensrentals, BorrowLenses boasts a diverse inventory. However, the main difference between the two companies is their geographical reach. While Lensrentals has a national presence, BorrowLenses has established a strong local presence in certain regions. This localized approach has allowed BorrowLenses to cultivate close relationships with its customer base, making it a trusted source for renting equipment.
Over the years, BorrowLenses has also prioritized providing educational content, such as tips, tutorials, and guides, to help customers make the most of their rental experience. This focus on education and support has not only enhanced the customer experience but has also positioned BorrowLenses as a thought leader in the creative industry, dedicated to empowering photographers and videographers at all skill levels.
The acquisition is a natural progression for two companies that are so similar that they are almost indistinguishable. By combining forces, they can make small yet significant improvements, such as expanding their localized presence and enhancing their educational initiatives.
However, Lensrentals CEO, Tyler Beckman, admits that BorrowLenses has always kept them on their toes. While it is ideal for a single, large company to operate at a larger scale, it remains to be seen if prices will remain the same and if the new company can maintain their personal-touch approach without the friendly rivalry that once existed.
