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Web surfing hits the bricks
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September 14, 2000: 2:39 p.m. ET
New York City cabs to offer mobile Web browsing in new Yahoo! venture
By Tatiana D. Helenius
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NEW YORK (CNNfn) - Harried New Yorkers will be able to surf the Web in their favorite taxicab thanks to a new venture between Internet services provider Yahoo! Inc. and Medallion Financial Group, the companies said Thursday.
Selected cabs will provide always-on Internet access through a Palm 7 handheld computer embedded in the passenger partition. The cost of delivering wireless Internet access will run about $70 a day in airtime, according to Andrew Murstein, president of Medallion Financial.
 But the cost is worth the added appeal to taxi customers, Murstein said. "It will deliver a great added-value service. Passengers can access stock quotes, e-mail, weather, sports scores, check on movies they'd like to see, or get directions to their favorite restaurant."
Medallion Financial owns the exclusive rights to advertising space on some 10,000 cabs in 20 cities, including New York, Boston and Washington. Billboard space on the tops of cabs runs about $4,000 per month for advertisers, and the current deal will give Yahoo! promotional space on the mobile billboards. Medallion also has worked out a first-ever agreement with New York City regulators to allow advertising on cab exteriors.
"I think this project is a win-win situation for all of the parties involved," Murstein said. "Taxi passengers will get up-to-the-minute information free of charge, Yahoo! gets additional advertising space on cab exteriors, and Medallion gets an additional revenue stream."
Some 10 Internet-enabled taxis swathed in Yahoo!'s new signature yellow and purple colors already are cruising the New York streets as part of a pilot program between Yahoo! �(YHOO: Research, Estimates) and Medallion. Murstein expects the companies will extend the rollout to five other cities within the next six months. 
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