Parking Panda enables homeowners to monetize their underutilized garage, driveway or other property by renting to people looking for a parking spot.
Baltimore, MD (PRWEB) September 17, 2012
Parking Panda, a marketplace for reserving and renting parking spaces, today announced the launch of its new iPhone app and availability in the San Francisco Bay Area. The Parking Panda app is free to download and enables drivers to instantly locate nearby parking in over 25 cities; in addition to the option to make in-app reservations for Baltimore, Washington DC and as of today, San Francisco and Oakland, California. Parking Panda is the first parking marketplace to optimize yield for city-based parking garages that frequently experience times of excess availability due to low awareness. At the same time, Parking Panda enables homeowners to monetize their underutilized garage, driveway or other property by renting to people looking for a parking spot. View a video on how Parking Panda works here.
Everyone has experienced the frustration of entering the city to attend an event only to encounter full parking lots, permit-only street spots, excessive pricing or otherwise undesirable options. Parking Panda enables people to reserve parking in advance, eliminating the stress and added cost of finding parking. The new iPhone app also helps parkers with last minute needs to instantly view a broad selection of locations and pricing for affordable parking nearby. Homeowners set the pricing and availability, and can optionally approve each rental request individually. Parking garage and lot owners can significantly increase capacity on previously slow days of revenue, while homeowners can earn up to $400-700 per month renting out space that would otherwise sit empty.
“San Francisco has an estimated 400,000 public parking spaces, mostly located downtown. When you consider the tens of thousands of people who come to the city every day for reasons other than work, or for example, the over one million people expected to come watch the Blue Angels in San Francisco next month, parking can be a daunting task,” says Nick Miller, CEO of Parking Panda. “When driving is a necessity, having access to reliable information on parking near your destination, as well as the ability to reserve and pay for a spot in advance, significantly reduces stress and enhances your experience.”
Parking Panda has raised nearly $800,000 in angel funding from notable investors including Fabrice Grinda, co-CEO of OLX, one of the largest free classifieds sites in the world; Jose Marin, Founder and Managing Director at Serendipity Investments; and Neil Kataria, Founder and Chairman, newBrandAnalytics. The Parking Panda iPhone app is free to use (download here) and enables online and in-app reservations for over 20,000 parking spots in Baltimore, Washington DC and the Bay Area, with availability in Philadelphia and other markets to roll out in the coming months.
Parking Panda also has established partnerships to power parking reservations for several venues as well as an integration with MissionTix, which sells tickets for events all over the country, where attendees can purchase parking alongside their event tickets. The company was also the Official Parking Partner for the Labor Day weekend Baltimore Grand Prix, where it facilitated all of the online parking reservations for over 100,000 attendees, managing inventory for over 40 lots and garages around the city for the event, including all of the parking garages owned by the City of Baltimore.
About Parking Panda
Parking Panda is a marketplace for reserving and renting parking spaces for both commercial and residential property owners. Parking Panda is the first to optimize yield for city-based parking garages that frequently experience times of excess availability due to low awareness. Part of the growing ecosystem of the shared economy, Parking Panda also enables homeowners to monetize their underutilized garage, driveway or other property by renting to people looking for parking spot. The Parking Panda app is free to use and reveals hours and pricing options for parking in over 30 cities nationwide. http://www.parkingpanda.com.