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May 28, 2014 03:57 am GMT
Original Link: http://feeds.mashable.com/~r/Mashable/~3/wxVa0e_d448/
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 SoftwareOriginal Link: http://feeds.mashable.com/~r/Mashable/~3/wxVa0e_d448/
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