Uber to acquire SpotHero.
Courtesy: Uber Technologies, Inc.
Uber on Monday announced that it is acquiring SpotHero, a company that provides a parking reservation app.
The rideshare company did not provide a deal price, but Uber said it plans to offer a “parking reservation experience, powered by SpotHero” within its own app to help users find parking for events, venues and airports.
“For the moments when people do choose to drive, SpotHero on the Uber app will make the experience easier than ever, and bring more people into the Uber ecosystem,” Uber CEO Dara Khosrowshahi said in a statement.
SpotHero last announced outside funding in 2019, when it raised $50 million in a round led by Macquarie Capital. The Chicago-based company launched in 2011, and now says it offers parking at more than 13,000 garages, lots and valets in over 400 cities in the U.S. and Canada.
“Joining forces with Uber will allow us to bring that experience to millions more drivers and make parking a natural part of the Uber platform,” SpotHero CEO Mark Lawrence said in a statement.
Uber said the acquisition is subject to regulatory approval and is expected to close in the first half of this year.
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