Uber’s next step away from its core business of ride-hailing and food delivery is to offer parking spot reservations that can be useful while you’re driving.
Announced Monday, Uber has agreed to acquire parking service SpotHero for an undisclosed amount. SpotHero’s reservation service, first launched in 2011, is what Uber calls the “industry-leading” parking option that has grown to more than 13,000 locations in 400 cities across Canada and the US.
Uber has been open about its next steps and why it wants to buy SpotHero, saying it plans to offer those considerations in its app. Uber says it will focus on “parking for passengers, as well as events, venues and airports.”
If the deal passes regulatory approval, which Uber believes will happen in the first half of this year, it could see SpotHero’s tech roll out to more locations as the ride-hailing brand’s recognition opens it up to more customers.
“We’ve spent 15 years building SpotHero into the most trusted, high-performing digital parking network in North America,” said SpotHero CEO Mark Lawrence. “Joining forces with Uber will allow us to bring this experience to millions more drivers and make parking a natural part of the Uber platform.”
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Those who subscribe to Uber One are likely to benefit the most. The brand has teased that customers can expect parking benefits as part of their membership. Uber hasn’t yet shared whether it will be available to those who don’t subscribe to Uber One. It may decide to offer the service for a fee to those who do not subscribe and a monthly credit allowance to those who do.
We don’t yet know how long it will take for Uber to adapt the tech into its app, but it looks like it plans to move quickly if the deal clears any regulatory hurdles ahead.
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