BMW is one of the top car manufacturers that you can hardly see a fleet of ten vehicles without spotting one of its models in the “group.” The company is a great investor and now it has acquired the Parkmobile to add to its worth. This is a smartphone app that offers guidance to drivers looking to park their cars in North American and its environs.
Ever since, packing has been a serious problem in almost all the cities of the world because people are becoming richer, adding cars into their portfolio, but the parking lot space remains the same for lack of space to expand. Therefore, whatever solution that attempts to tackle this issue is definitely a refuge for most people. That’s how the Parkmobile became a business and its demand is always rising up.
Parkmobile as a Business
Last year alone Parkmobile managed to provide a platform that transacted over 50 million from people securing parking space in North America. Off cause that is not small because the need for the app is growing faster. As of now, the application has registered over 8 million users; Imagine one, one, eight million people using the packing app!
How it Works
The app uses a simple logic of updating the user on where there is available packing space for hire. It prompts users on empty, on-street and garage spaces, and their payment amounts. You can also reserve the space if you are close to the venue and nobody else will occupy it because they see that the slot is booked in their apps. Ideally, the platform has proved to be a great solution to the problem, and now, BMW will definitely get a significant foothold across the U.S parking service market.
When it comes to the extent of coverage, Parkmobile is spread to over 300 cities and stateside, from Philadelphia, Phoenix, and NYC, to sample just a few. Well, to make it clearer, BMW was still a shareholder of Parkmobile but its investment was somewhat insignificant, but now having acquired the most shares, BM takes the fast position and claims ownership of the park service.
BMW’s Perspective about Parkmobile (video)
Emphasizing on the importance of the app, BMW says that over 30% of traffic in cities is caused by drivers hovering to look for a parking spot. When a city is unfamiliar, folks go into deeper confusion as they can’t figure out where to park, thereby causing stop-starts that in the end blocks everybody else.
The car manufacturer sees Parkmobile as a solution to city traffic and parking.