Parking spaces are the newest commodity to be bartered in the sharing economy
A panorama view of a parking garage in downtown Boston. Evan Jackson / Flickr.com
Parking Panda’s success is reliant on growing a critical mass of users that offer enough spaces to make the service useful and enough cars to make it profitable.
Excerpt from Slate
Parking is one of the most vexed commodities in modern American life…Fixing it is going to require better policies, but it also needs a healthy boost from the private sector. Into the breach steps Parking Panda, launched earlier this year in Baltimore and now available in many cities. It is a simple way to rent out some of those unused spaces.
… A single space in a driveway or backyard is hardly worth marketing, but if an online service can drastically simplify the discovery process, then suddenly “hidden” parking capacity can be unlocked. With Parking Panda, a spare space or five can become a small extra revenue source.