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CitiBank’s investment in New York City’s bikeshare is paying off

CitiBank’s investment in New York City’s bikeshare is paying off.

Columbus launched Ohio’s first bikeshare this week. Cincinnati, meanwhile, continues to work on developing its own bikeshare system. While the movement starts takes root in the Buckeye State, New York City’s new CitiBike system has been seen as a massive success. This has not only been for those using the system, but also for CitiBank as it has been looking for a way to rebuild its brand identity following the financial crisis years ago. More from The Daily Beast:

In recent months one bailed-out, much-hated bank has found salvation through an unorthodox, low-affect marketing method. We’re talking, of course, about Citi’s sponsorship of the wildly popular, just-launched New York City bikesharing program—Citibike…Instead of forcing people to watch another soporific spot before guffawing at that clip of The Daily Show online, or getting lost in the hundreds of ads disrupting people trying to watch The Voice, Citibike offers a rolling testimonial to the brand. Every day, about 25,000 times, someone saddles up on a Citibike, which has the company’s name plastered on it prominently, and rides around Manhattan or Brooklyn, usually with a smile on her face.

By Randy A. Simes

Randy is an award-winning urban planner who founded UrbanCincy in May 2007. He grew up on Cincinnati’s west side in Covedale, and graduated from the University of Cincinnati’s nationally acclaimed School of Planning in June 2009. In addition to maintaining ownership and serving as the managing editor for UrbanCincy, Randy has worked professionally as a planning consultant throughout the United States, Korea and the Middle East. After brief stints in Atlanta and Chicago, he currently lives in the Daechi neighborhood of Seoul’s Gangnam district.