Google Maps is an individual’s constant companion when one is out on unfamiliar roads, or trying to find a particular venue. The service is very popular with netizens, however it is not bringing revenue. Google’s CEO Sundar Pichai admitted that the company has been slow in monetizing the app, which has been intentional.

Pichai when quizzed about the company’s future plans to monetize the Map service, Pichai told an analyst from Wall Street that Google took a “long term view.” He insisted that Maps is still experiencing strong user growth even years after it was launched courtesy the increase in smartphones in many developing and emerging markets.

He also noted that the Maps service is an important part of the smartphone. Its significance in our daily lives will increase with the rise in augmented reality and the development of new technologies in the real world.

Monetizing Google Maps

Although Pichai did not specifically lay out how Google plans to turn the Maps service into a money-maker, the CEO’s answer at the Q1 earnings call on Thursday, April 27, gave an indication of what the company may have in mind. The Google CEO pointed out the changes that took place in Google Maps in the last few months, where the service assists its users by suggesting what to do if one is out on a Friday, or where to go for a bite. He also added that the feedback of these features from the users has been quite encouraging and the company will be mulling over the idea to add value to them in the course of time.

Thus, it is quite possible that in the near future one could see Maps promoting a bunch of places to its users whenever they open the service. It can also offer coupons or discount codes for restaurants and bars to add value to the Maps service. However, Pichai is yet to confirm any of the above-mentioned speculations, so for now these just remain assumptions.

Find your parked car with the help of Google Maps

Amid the buzz of monetizing Google, the company on Tuesday, April 25, introduced a new feature in its Maps service. The new service will now help its users to recollect where they parked their car in case they forgot the spot or cannot remember their way in confusing parking lots.

The feature was rolled out for both Android and iOS users.

Android smartphone users have to tap a blue dot and then click on "Save your parking" to add details about the parking location in Maps. The process to pinpoint the location on iOS run devices is similar with only a tiny difference in the functioning. iOS users will just have to click the blue dot and tap on "Save your parking" to mark the spot. They would not have to enter additional details to save the card.