(verb)
to operate as a person who controls prostitutes and arranges their clients, taking a portion of their earnings in return, or to offer someone up as a prostitute;
e.g. Both of them pimp using the same building as their office.
(verb)
(informal) to make something more impressive or showy in order gain benefits from it, or broadly, to dishonorably use or exploit something for one's own benefit or gain (used as "pimp up" in both cases);
e.g. They tried to pimp up the community center with fancy equipment to attract more people to it.