When it comes to online business, the name of BMW does not ring any bell to us as it is a famous brand in the car industry. However, the automaker has realized the potential of Internet and has set up a venture capital company called BMW i Ventures. One strong indication that BMW has taken this company seriously is that it is going to keep $100 million for this project. The first $5 million has been invested in a company called MyCityWay.
Watch the video from YouTube about this partnership:
My City Way develops apps for smartphones and the apps are targeted for local information in different cities. At first, the company targeted New York and now, it will cover many cities in Europe and USA. Users can get information and at the same share and create information on local topics. So, it is helpful not only for the tourists but also for the local residents.
In New York, nearly half a million people use MyCityWay apps. In the video, it was stated that the users can get all kind of information about the city in real time. MyCityWay is already active in 40 cities in USA and the money coming from BMW would help the company to reach out to the consumers in Europe and Asia. BMW is based in Munich, Germany and you don’t get any point for successfully guessing that MyCityWay will be able to the people in Munich from now on with the money of BMW.
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