CBS reporter Alex Silverman interviewed one of Parking Auction's co-founder's-- Brian Rosetti.
Here's a quote from Brian:
“Well, we look at the pain that’s out there and we’ve seen stats in certain neighborhoods in New York where, you know, 40 percent of the traffic is due to people cruising looking for parking,” says Rosetti. “People will wait upwards of 45 minutes to an hour. I know on my block here on the Upper West Side, I have neighbors who, after they’ve given up looking for a spot, double park on my block and they’ll idle.”