“I do not need a drill. I need a hole in the wall“. That’s the idea behind the growth of sharing-economy companies. While Uber and Airbnb are the ‘crown jewels’ of sharing economy, there are numerous smaller and fast-growing startups successfully matching demand and supply in other industries. Sharemypark, a Belgian app used to book private parking spaces having 10,000+ users was acquired by Parkpnp, an Irish startup operating in the same niche.
Terms of the deal were not disclosed. The acquisition will result in Sharemypark co-founders William Detry and Murat Turkeli joining Parkpnp’s team. It appears the Belgian startup’s founders didn’t want to operate their company on razor-thin margins, as would have been the result had Sharemypark opted to stay independent and compete with the Irish Parkpnp.