The name of the long-awaited Philly Bike Share program was announced Wednesday as the program nears its launch this spring.
Indego is the name of the bike share program, which Philly-based insurance giant Independence Blue Cross (IBX) is sponsoring to the tune of $8.5 million over five years.
“I was over the moon,” said Katie Monroe, bike share outreach coordinator for the Bicycle Coalition of Greater Philadelphia, on the new version of the Indego.
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Monroe called the IBX sponsorship “a natural partnership.”
IBX will has said its members will get discounts on bike membership fees.
The design of the bikes debuted Wednesday will feature the Independence Blue Cross logo prominently — much like the Citibank-sponsored "Citibikes" in New York City.
But Monroe said the corporate logo doesn’t detract from the bikes.
“I think the blue is great, they’re comfortable and there’s a really nice bell,” she said.
Rentable Indego bikes will be available at 60 stations around the city 24 hours a day once the service launches.
The project has a budget of about $13 million -- including a $3 million capital investment from the city, $4.5 million in foundation, state and local funding, and funds from IBX.
The program is designed to be financially self-sustaining. Monthly and hourly rentals will be available. Prices have not yet been finalized.