Citi
Bikes Are a
Wild Success, But
Will They Survive?
If there is one problem with
Citi Bike, it's the looming financial mess that threatens to consume it.
New York City's privately funded bike-share program reportedly needs a quick influx of "tens of millions" of dollars to stay afloat — and that was
before the city said that Alta Bicycle Share Inc.,
Citi Bike's operator, owes an additional
$1 million for the lost parking revenue eaten up by bike racks that eliminate potential parking spots. Without expanding to different boroughs, more revenue from tourists and a potential price hike, operational costs could force the bike-sharing program to shut down.
Read more...
More about
New York City,
Bikeshare,
Advertising,
Marketing, and
Apps Software