Monthly Archives: December, 2015

Technology Companies ParqEx and ShareASpot Join Forces to Solve Urban Parking Crunch

Technology Companies ParqEx and ShareASpot Join Forces to Solve Urban Parking Crunch

December 17th, 2015 Posted by Car, Community, Feature, mobile app, Parking, ParqEx, sharing economy No Comment yet

ParqEx, a Chicago-based technology start-up that connects individuals and businesses who have underutilized parking spaces with drivers seeking parking, today announced an alliance with ShareASpot, a company based in the Chicago suburbs with a similar vision of leveraging the sharing economy. The two companies plan to combine resources to optimize the customer experience and to speed growth by expanding their geographic reach beyond the city of Chicago.

“This partnership makes sense for all the right reasons,” said Devin Bates, co-founder of ShareASpot. “Both companies want to improve congestion and hassle by utilizing existing resources in a better way, and we both want what’s best for our parking owners and renters. We are very impressed with ParqEx’s technology and by maximizing our strengths, we know we can achieve our goals more effectively than if we’re in competition.”

Both ParqEx and ShareASpot launched in early 2015 with the similar idea of making parking easier in and around Chicago. ParqEx originated in the city and has been primarily focused on neighborhoods near downtown, whereas ShareASpot originated in the Oak Park suburb of Chicago where commuters and local residents were often in competition for limited spots near public transportation.

“We created ParqEx to help solve urban parking challenges while providing benefit to local residents and businesses,” said ParqEx founder and CEO Vivek Mehra. “We know that to accomplish this, we need to create a great customer experience for both sides of each parking transaction. We feel that this alliance will not only allow us to expand faster, but it will also allow our customers to enjoy both superior technology and customer service.”

As part of the alliance, existing ShareASpot users will be transitioned onto the ParqEx platform, where all future transactions and customer support will occur. ParqEx’s long-term vision is to expand to other markets within the US and the company has been actively seeking funds to fuel its next phase of growth. The alliance with ShareASpot allows ParqEx to quickly add business within Chicago, which provides additional momentum towards geographic expansion.

The ParqEx platform replaces traditional methods of listing parking — such as posting a sign or using classified ads — by giving spot owners a simple, flexible way to make their parking available to the market. They can list their spots to be rented short-term (daily / hourly) or longer-term (weekly / monthly), and even just for specific hours during the day. ParqEx also provides personalized service to ensure that owners maximize the marketability of their spots by helping with pricing and photos, and to handle the reservation and payment details. Drivers then use the ParqEx smartphone app website to locate and book a spot that meets their needs.


About ParqEx

A technology company based in Chicago, Illinois, ParqEx is the private parking marketplace that connects owners of parking spots to people in need of a place to park. In urban areas where parking demand is high but existing options are scarce or expensive, ParqEx makes additional supply available to the driving public by listing exclusive inventory owned by local residents and businesses. Using ParqEx, parking owners are able to make some supplemental income from an underutilized asset while renters find more convenient and often less expensive parking options in hard-to-park locations. The ParqEx support team ensures that the entire process of listing, reserving, parking, and paying is as smooth as possible for all involved. Learn more at or download the app for free at the Apple iTunes and Google Play stores.

To Learn More: 

About ShareASpot

ShareASpot connects people who have unused parking spots with people who need parking. This is a win-win for both spot owners and spot renters. Spot renters can find parking that is more convenient and cost-effective and the spot earners can make a profit from their unused spots. By sharing these resources, we have made parking simple and easy!

To Learn More:

ParqEx: 3 Intriguing Technology Innovations in Transportation

3 Intriguing Technology Innovations in Transportation

December 17th, 2015 Posted by Car, mobile app, Parking, ParqEx, sharing economy No Comment yet

Every now and then it’s fun to take a dip in the world of transportation technology and see what innovations it has come up with. It is especially fun when nature inspires those innovations — also called biomimicry — and “shares” them with engineers in a way that might be its own sharing economy.ParqEx: 3 Intriguing Technology Innovations in Transportation

And ParqEx has always been fascinated with sharing economies — whether the sharing is human-to-human or nature-to-human — as you can see in our own innovations in solving the parking problem in Chicago.

These three bright ideas of transportation technology are just a few examples of how the modern world is participating in a sharing economy with Nature:

1. The Mercedes-Benz Bionic Inspired By a Fish:

Mercedes-Benz turned to the ocean for its new biomimicry designed car called the Mercedes-Benz Bionic. Its design imitates the yellow boxfish in an attempt to harness the fish’s efficient use of energy.

It definitely worked, to say the least.

It reduced nitrogen oxide emissions by 80% thanks to its Selective Catalytic Reduction design, also known as the-car-looks-like-a-yellow-boxfish technology. (Nitrogen oxide, by the way, is lethal to humans, and it a common pollutant from cars. A recent report from King’s College showed that 5,900 deaths in London in 2010 were caused by this pollutant.) The exterior design of the car was modeled after the yellow boxfish because of the fish’s low coefficient of drag.

2. Cars with Bird Skulls for Protection:

Biomimetic architects (people who study nature to get ideas about their buildings) have stumbled onto something that could be a huge game  changer not just for architecture but for the transportation industry.

Bird skulls.

That’s right, architects have been studying the unique formation and malleable design of bird skulls. From this research they are developing a new building material that could withstand far more damage than current materials.

According to Biomimetic Architecture, architect Andres Harris said this about the new material: “Skulls in general are extraordinary impact-resistant structures and extremely light at the same time as they protect the most important organs of an animal body and this performance and physical property can be applied in structure or architecture design.”

Harris also mentions in his research that this material could be used in cars, and thus provide even safer external structures that can more easily withstand violent collisions compared to current car materials.

3. The Bullet Train Inspired by a Kingfisher Bird:

A bullet train in Japan — the 500 series Shinkansen bullet train that links Shin-Osaka to Hakata — is famous for its nose, or beak, rather. Its design is inspired by the beak of the Kingfisher. The efficient drag-reducing design of the Kingfisher’s beak was emulated in a way that allowed the train to reach speeds of 185 mph.

And it also looks incredibly cool.

While reading about these nature-inspired technologies adds a sense of excitement about the future of transportation, ParqEx is also excited about what new technology is bringing to the every day driver in Chicago.

Our favorite example of that, of course, is our ParqEx app that allows drivers to easily find privately owned parking spaces that others have placed on the app as available. Drivers can rent these private spots much the same way you rent a room with AirBNB. Owners of the parking spaces get a ridiculously easy-to-earn, passive income from every parking space they rent to drivers using the app.

Nature might be sharing its phenomenal designs with engineers, but residents in Chicago are using the sharing economy — and the great app technology being birthed from it — to share their phenomenal parking spaces.

And that’s what innovation is all about.

Contact us for more insights about technology innovation in the world of parking, cars, transportation, and logistics space, and how you can benefit from these innovations.

ParqEx: What is the future of the sharing economy?

What is The Future of The Sharing Economy?

December 10th, 2015 Posted by Car, Community, mobile app, Parking, ParqEx, sharing economy No Comment yet

The sharing economy has constantly been in the news over the past several years. It’s a term that’s been used to describe businesses like Air B&B, Uber, Etsy, and even the auction giant Ebay. But what is the sharing economy, exactly, and why is it growing in popularity? Is it sustainable, and will the model grow?

The Idea of Shared Resources

The idea behind the businesses mentioned above, and behind the sharing economy in general, is shared resources. With Air B&B it’s the idea of someone who has a home renting space in that home to travelers. With Uber, it’s the idea of sharing a car someone already owns. Etsy allows crafters to share their creations with customers around the world without having to go through a traditional business model, and Ebay accomplishes the same goal on a much larger scale. In all of these situations it’s people who are turning to other individuals, instead of to big businesses and corporations, to get the goods and services they want and need.

Party A has something, Party B needs something, and a business acts as the middleman by bringing the two parties together, and taking a small percentage in order to pay for its operations.

Why It WorksParqEx: What is the future of the sharing economy?

The reason the sharing economy works is that it possesses the spirit of helping. The more people who succeed, the more the industry as a whole succeeds. For example, for every successful sale on an Etsy store, that store owner gets paid, and the client gets something he or she wants. However, if that client has a positive experience, then he or she is likely to check out other Etsy stores. This means that store owners who did nothing but exist, and offer a quality product, may find themselves with customers because of something another store they don’t even know did right.

The sharing economy, despite being made up of hundreds, perhaps thousands, of different individuals, acts as a single community. They affect each other, and they acknowledge that they affect each other. As such, they support each other, and do their best to make sure that the reputation of their community is protected and maintained.

Will The Sharing Economy Remain?

The sharing economy is a return to a simpler way of doing business, using the tools and connectivity of the modern age. After all, there’s no reason to give money to a big corporation when you can get the products or services you need from another person whose name and face you know.

With that said, the sharing economy will have to continue to provide certain things in order to stay competitive, and to remain a force in the future marketplace.

First, the sharing economy will have to offer both value, and a low price for the things it provides. One of the major factors driving Uber, for example, is that it’s often less expensive than traditional taxi cabs. If that changes, though, more customers are going to switch to cab rides, because it’s gentler on their pocket books. Second, the sharing economy will have to continue to offer something unique. Something that bigger businesses and corporations simply cannot match. Hand-crafted products, and unique items will always be at home in a sharing economy, and that will give it an edge over companies who deal in mass-produced stock. Whether it’s food or a place to stay, transportation or banking services, people like to have unique solutions that are tailored to their wants and needs.

The sharing economy provides that, and as long as it continues to do so, it’s not going anywhere. For more information on the sharing economy, particularly about ParqEx- the sharing economy platform for parking, simply contact us today!

Make the Most Out of This Holiday Season by Preparing Your Parking Spot for ParqEx

Make the Most Out of This Holiday Season by Preparing Your Parking Spot for ParqEx

December 3rd, 2015 Posted by Chicago Travel Tips, Community, Garage, Holidays, mobile app, Parking, ParqEx No Comment yet

As thousands of us begin preparing for the holiday season, many of our ever-growing to-do lists will begin to look the same.

Arrange for travel plans to see the in-laws? Check.

Create grocery lists for all our holiday parties? Check.

Spend as much time needed ensuring that you’ve picked out the perfect gift for those perfect someones? Check.

But what you may not have considered is ways to make your parking spot earn you money while you’re traveling this holiday system.

It may not be a traditional part of the holidays, but the sharing economy is rapidly becoming a huge part of nearly everyone’s daily lives. And it’s not just American’s who are reaping the benefits of the peer-to-peer (P2P) economy – this is a global movement that isn’t showing signs of stopping.

So what does this have to do with the chaotic bustle of the holidays, and how can you make some cash by participating?

Join ParqExMake the Most Out of This Holiday Season by Preparing Your Parking Spot for ParqEx

As someone who owns prime real estate in the parking world, you have the opportunity to rent out your parking spot to needy drivers. Join the ParqEx community and consider the benefits:

  • Make money knowing you’ve got a vested and professional company doing most of the hard work for you
  • Rely on the security and standards of ParqEx to keep your privacy safe
  • Rest easy knowing that this is only half the fun — get ready to shop for parking, too!

List Your Spot

Most of us know ahead of time when we’ll be out of town for the holidays. While many ParqEx users list their spots when they’re at work or away on business, consider listing your spot when you’re at your in-laws or extended family for longer visits.

ParqEx users who live in more urban areas may find themselves at an advantage for offering ParqEx drivers prime parking spots for their holiday shopping. Not only are you increasing your own revenue, but you’re decreasing the stress on your fellow citizens!

Reap the Benefits

While you’re gathered around the kitchen Thanksgiving afternoon, surrounded by loved ones at a Hanukkah dinner, or handing out gifts Christmas morning, you can grin while knowing that your parking spot is waiting at home for you, making some extra cash for you to use on just about anything.

Whether you chose to use your ParqEx money on extra holiday gift buying or just to top off your own bank account, you won’t be sorry that you’ve invested in making your real estate work for you

Save on Parking While You Travel

But why stop at renting out your own parking space? As you travel, know that cities across the country have chosen to use ParqEx and make the sharing economy work for all kinds of travelers.

Before arriving at your destination, shop for parking spots to make your travels even easier. Rest assured knowing that your spot will be waiting for you, and there won’t be any fighting over spots or circling lots trying to find the perfect place to park it.

Instead, let ParqEx do the work for you this holiday season. Whether you chose to rent your parking space for some extra income while you enjoy your travels; to seek out the best parking locations as you visit friends, family, loved ones, and complete your shopping errands; or to do all of the above, let ParqEx be your best travel companion and make your holidays a breeze!

Contact us if you have any questions about how to make the ParqEx system work for you, and how you can become a member of the peer-to-peer economy today.


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