TLDR

Uber is acquiring parking app SpotHero for an undisclosed sum.
SpotHero will be integrated directly into the Uber app for parking reservations.
The deal covers 13,000+ parking locations across 400+ cities in the U.S. and Canada.
Uber One members will eventually receive parking benefits through the deal.
The acquisition is expected to close in the first half of 2026, pending regulatory approval.

Uber is buying SpotHero, the Chicago-based parking reservation app, in a move to expand what users can do inside its platform.

Uber is buying parking reservation app SpotHero, the latest move by the rideshare company to expand its customer base https://t.co/yLAO4xpMIA

— Bloomberg (@business) February 24, 2026

The financial terms of the deal were not disclosed. Uber said the acquisition is expected to close in the first half of 2026, subject to regulatory approval.

Uber Technologies, Inc., UBER

SpotHero launched in 2011 and currently lists parking at more than 13,000 garages, lots and valets across more than 400 cities in the U.S. and Canada.

The plan is to build a “parking reservation experience, powered by SpotHero” directly inside the Uber app.

CEO Dara Khosrowshahi framed the deal as serving users who still choose to drive, rather than hail a ride. “SpotHero on the Uber app will make the experience easier than ever, and bring more people into the Uber ecosystem,” he said.

Uber One members — the company’s subscription tier — will eventually receive parking perks as part of their membership, though Uber gave no timeline on that.

SpotHero CEO Mark Lawrence said joining Uber would let the company reach millions more drivers. “Parking a natural part of the Uber platform” was how he described the vision.

SpotHero’s last known outside funding came in 2019 — a $50 million round led by Macquarie Capital.

Expanding Beyond Ride-Hailing

This deal follows Uber’s expansion into food delivery, groceries, retail and freight. Parking is the next addition to that list.

Uber’s market cap currently sits at around $146 billion. For context, Lyft is valued at just over $5 billion, and DoorDash — its main rival in delivery — sits above $71 billion.

Earlier this month, Uber posted better-than-expected fourth-quarter revenue. However, soft profit guidance for the current period sent the stock lower following that report.

The delivery segment led revenue growth in Q4, expanding from restaurants into groceries and retail.

The Numbers Behind the Deal

Uber did not put a price on SpotHero. The startup had not announced outside funding since that 2019 round.

Uber stock was up 0.35% in after-hours trading on Monday following the announcement.

The deal is pending regulatory review, with a close expected before the end of June 2026.

The post Uber Stock: SpotHero Acquisition Targets Events and Airport Parking appeared first on CoinCentral.

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Filed under: News - @ February 24, 2026 11:26 am