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@desisaran, a quick note about NYC and it's crazy parking market. I actually lived in NYC for a few years and we are very aware that a concept like SPOT would never work in this type of city (in fact, I wouldn't touch it with a 10 foot pole). The barrier to entry with garages & restricted access parking lots would be too large to overcome.
The markets this will work in will definitely depend on the type of geography in each city. For example, Boston is a perfect city to launch in because there are a lot of alley/driveway/personal garage SPOTs...much like Chicago, DC, Miami, LA and San Fran!
Trying to solve the parking problem seems to be the new hot problem to solve.
See also: Monkey Parking, Sweetch, LUXEValet
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@braden_spot great to hear you have those relationships. You may want to mention that you're in Boston now (and potentially expanding to Chicago, DC, Miami, etc. soon) on your homepage -- I'd be frustrated as a SF user if I signed up and the nearest spot was 3,099 miles away. But if you were doing a limited rollout in Boston I'd Frickin' A recommend you to my friends there.
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Thanks for the feedback @mark__a! We will update the website so people don't find themselves in this preventable but understandably frustrating situation.
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Hey @Josh_Goldstein - great question! Realizing how large the parking industry is ($30B annually just in US), we knew that there was and is a lot of room for innovation in an industry that just seems to be stuck in the stone-age! Spothero, ParkingPanda and even Parkwhiz do a great job at finding the consumer a public parking garage/lot. This allows you to find an expensive parking spot quicker, but doesn't allow you to find a cheaper alternative that may be closer to your location.
We are strictly going after the private parking niche and feel as if the 'shared economy' concept is in it's infancy. Parkatmyhouse is doing something similar in the UK and has just recently started to make it's way over to the states. Our technology will be far more intuitive and easier to use than any of the competitors in the space and we are confident that we will make it easy to not only find a parking SPOT quickly in a city near you, but also make it very simple to rent out your parking SPOT when looking to make a few extra bucks when you aren't utilizing it! It's a win-win for both sides of the transaction...
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Another good question @Josh_Goldstein! We have done more research than I care to admit regarding the total addressable market and how we could potentially reach a certain market share before we said 'GO' to our development team. We knew the hard numbers of, say the $30B number I threw out there before, but we needed to get extremely specific and sophisticated when it came to the private side and that means doing so for each market we see ourselves in, moving forward. We know how many thousands of SPOTs are in each of the top 10 markets and from that, we are able to extrapolate what kind of influence we may have over each city (i.e; what it means for a 5%, 10%, 40% market share for SPOT and it's users).
Delving into the specific numbers aren't necessary but let's just say we know how big the private parking niche is in the US and it's more than $10B annually (and I think we both know that the US is not the only place in the world where parking is a nightmare)!
I hope this answered your question Josh...I tend to get long winded when speaking about something that I have done so much work on and am so passionate about. Now, I need a breather!
Awesome @braden_spot. Thanks for the detailed response. :) Wish you all the best!
Btw, and I know this is weird, but I own a few domains that are similar to yours (parkingspott.com, etc.). Like I said, I studied this space a lot a few years ago. If you guys ever wanted to chat offline, shoot me an email/dm.
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