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Uber’s next step away from its core business of ride-hailing and food delivery is to offer parking spot reservations you may find useful when you’re driving your own car.
Announced on Monday, Uber has agreed to acquire parking service SpotHero for an undisclosed sum. SpotHero's reservation service first launched in 2011, offering what Uber calls an “industry-leading” parking option that has grown to over 13,000 locations in 400 cities across Canada and the US.
Uber is open about its next steps and why it wants to buy SpotHero, saying it plans to offer these reservations in its own app. Uber says it will focus on “parking for commuters, as well as at events, venues, and airports.”
If the deal passes regulatory approval, which Uber believes will happen in the first half of this year, it may see SpotHero’s tech come 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 Mark Lawrence, CEO of SpotHero. "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."
Those who subscribe to Uber One are likely to benefit the most. The brand has teased that users 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 a paid-for service to those who don't subscribe and a monthly credit allowance to those who do.
We don't yet know how long it will take Uber to adapt this tech into its app, but it sounds like it plans to act swiftly if the deal passes any regulatory hurdles ahead.