Uber Announces Acquisition of Parking App SpotHero

Uber announced Feb. 23 that it plans to acquire parking app SpotHero to bring parking reservations onto the Uber app.

The San Francisco-based ride-share company said it plans to focus on parking for commuters, as well as at events, venues, and airports, and intends to later provide parking benefits for its Uber One membership tier.

“We’ve built Uber around giving people more ways to get around without needing a car. But 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,” said Uber CEO Dara Khosrowshahi.

The acquisition is expected to close in the first half of 2026 and is subject to regulatory approval and customary closing conditions. Terms of the sale have yet to be disclosed.

The deal headlines Uber’s recent expansion projects, including the launch of “Uber Autonomous Solutions,” a new platform announced the same day that’s aimed at providing partners with tools, data, and infrastructure for their autonomous platforms.

Uber (UBER) stock price fell 3.1 percent during Monday’s trading session, closing at $70.72 after opening the day at $72.99.

On Wednesday, Uber and Joby Aviation announced the launch of their electric “air taxi” aircraft, slated to carry its first passengers later this year in Dubai.

A couple of weeks ago, Uber also announced it will acquire Turkey-based Getir’s delivery business to expand its Uber Eats offerings. Uber has acquired 16 companies since its inception in 2009, according to Mergr data.

SpotHero was founded in 2011 and said it’s the leading parking reservation app in North America, with over $2 billion in parking reservations sold, and over 13,000 parking locations offered across more than 400 cities in the United States and Canada.

The Chicago-based company has raised approximately $118 million in total funding, most recently from a $50 million Series D round led by Macquarie Capital in 2019, according to Crunchbase data.

“We’ve spent 15 years building SpotHero into the most trusted, high-performing digital parking network in North America. 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,” said Mark Lawrence, CEO of SpotHero.

On Thursday, Uber stock closed at $74.80.