Italian MonkeyParking mobile app provides a new way to incentivize drivers to free up their parking spaces.

San Francisco is a 7 by 7 mile square piece of land that hosts more than 800,000 people – needless to say space is very hard to come by. Apartment hunting can be a real undertaking, while finding parking space is equally frustrating. Italy-based startup MonkeyParking has created an app to help San Franciscans make the best of a bad situation, namely by allowing people to get paid when they leave a parking spot. Basically, any driver with a car occupying a parking space can offer up a starting bid for their spot on the MonkeyParking app, then desperate drivers circling the vicinity can offer up their bids. Once the occupier accepts a bid they're happy with, the winning bidder receives the exact parking location, and MonkeyParking pockets a percentage of the transaction.

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