Reviewed by Gotrade Internal Analyst
Gotrade News - Uber just announced it's acquiring SpotHero, the biggest parking reservation app in North America. The move marks a clear push beyond its core ride-hailing and food delivery business, as the company looks to pull more users into its ecosystem.
The deal was announced on Monday (23/02) through official statements from both companies. Uber plans to bake SpotHero's features directly into the Uber app, letting users book parking at more than 13,000 garages, lots, and valet services across over 400 cities in the US and Canada.
Key Takeaways:
- Uber is expanding its ecosystem beyond ride-hailing by acquiring SpotHero, the leading parking reservation app in North America
- The parking feature will target commuters, airports, and event venues, with added perks for Uber One subscribers down the line
- The acquisition is expected to close in the first half of 2026, pending regulatory approval
Uber CEO Dara Khosrowshahi framed the acquisition as a way to serve users who still choose to drive themselves. According to Bloomberg, Khosrowshahi said SpotHero will make the driving experience smoother while bringing more people into the Uber ecosystem.
SpotHero has been around since 2011 and has grown into the go-to platform for digital parking reservations across North America. SpotHero CEO Mark Lawrence said that teaming up with Uber will open the door to millions of new drivers and make parking a natural part of the Uber platform.
Uber didn't disclose the financial terms of the deal. However, according to PitchBook data cited by Bloomberg, SpotHero was last valued at $290 million following a 2019 funding round.
Uber's Broader Play to Grow Its User Base
The SpotHero acquisition isn't a one-off move from Uber. Over the past year, the company has been rolling out products aimed at specific user segments and different price points to widen its customer base.
Last May, Uber introduced prepaid and price-lock passes that offer discounts to commuters on regular routes. The company also started setting up physical kiosks at airports, kicking things off at LaGuardia in New York, to cater to travelers who don't have the Uber app on their phones.
With SpotHero in the fold, parking operators that already work with the platform will also get access to Uber's massive consumer base. Uber's network of vehicle charging and fleet partners adds another layer of value for those operators.
What This Means for Uber's Ecosystem Going Forward
The parking feature will zero in on high-volume users like daily commuters, as well as people heading to events, venues, and airports. Down the road, Uber One subscribers are also expected to score parking-related perks as part of their membership.
The acquisition still needs the green light from regulators and has to meet other standard closing conditions. According to Uber's official statement, the deal is expected to wrap up in the first half of 2026.
Uber's move here fits a consistent pattern of building out a full-blown mobility ecosystem. Parking is a logical next piece of the puzzle after ride-hailing, delivery, and transit services already living on the platform.
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Reference:
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Bloomberg, Uber Buys Parking App SpotHero to Grow Its Customer Base. Accessed on February 24, 2026
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Uber, Uber to Acquire Parking App SpotHero. Accessed on February 24, 2026
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