Parkable Expands to Australia through Acquisition

Kiwi startup Parkable, which provides a marketplace for people to offer carpark spaces and find carparking, has expanded to Australia by acquiring Brisbane’s Park Genie. A fast growing company, Parkable has captured a market with growing demand as the number of vehicles increases but cities struggle to provide enough parking, even though there are often “reserved” spaces or otherwise empty bits of land that can be used for parking. There’s a decent amount of competition though, and the barriers-to-entry are low from a technology/product perspective – the difficulty is in building enough of a market and pushing sales. Read more here: