You’ll never have to search for a parking spot again

By June 24, 2015Startup News

You circle the block a dozen times, just barely missing one open parking spot, mistaking a loading zone for another, before finally resigning yourself to parking blocks away from your destination.

It’s an annoyance we’ve all experienced, and Parkifi is trying to solve it. But it’s not just because the startup cares about your mental health.

Circling for parking adds to congestion, bad air quality and traffic accidents. And while parking spaces are the biggest use of land in any city, they’re terribly managed, according to Donald Shoup, urban planning professor at UCLA.

“You can’t imagine having any other industry where they don’t know what the inventory is,” Shoup said. “And they just have no idea [with parking]!”

Parkifi was cofounded by Ryan Sullivan and Rishi Malik. It makes sensors and the corresponding technology to let people know whether spots are occupied. This isn’t new, but they’re doing it for much, much cheaper.
Read the full article on CNN Money.