by The Uber app will soon become significantly more useful, even for those who never order a ride. This will be possible thanks to a new parking spot reservation feature, which will appear after the company’s acquisition of the SpotHero service.
Deal Details and SpotHero’s Scale
The terms of the deal are not disclosed, however, it is known that SpotHero, launched in 2011, is a leading parking reservation app. The service provides the ability to book a spot in over 13 thousand parking garages and lots in more than 400 cities in the USA and Canada.
This vast network, according to the company, is already used by millions of drivers, and the total volume of reservations sold through it has exceeded 2 billion dollars. It is this success that explains Uber’s interest in the purchase.
Integration Plans and Future Benefits
The deal still requires approval from regulators, but it is expected to be completed in the first half of the year. If all goes according to plan, Uber will begin implementing a parking reservation feature in its app, powered by SpotHero’s technology.
For now, the company is not revealing many details, but it is known that the new service will be aimed at commuters, as well as concert and sports event attendees. Uber also intends to gain a share of the profitable airport parking market.
Interestingly, the company is already hinting at adding parking-related benefits for Uber One subscription users. There are no specifics yet, but currently, this subscription costs $9.99 per month and provides free delivery, discounts during peak hours, and 6% cashback on rides.
We built Uber to give people more ways to get around without owning a car. But for those times when people still decide to drive their own vehicle, SpotHero in the Uber app will make that experience easier than ever and bring more people into the Uber ecosystem, — stated Uber CEO Dara Khosrowshahi.
Strategic Development and Context
This step is a logical continuation of Uber’s strategy to transform from a simple taxi-hailing service into a comprehensive mobility and everyday services platform. The acquisition of SpotHero allows the company to close the travel chain, offering solutions not only for transportation but also for the final point of the route — parking. This could significantly increase customer loyalty, especially in cities where finding parking is one of the main challenges for drivers. Integration with Uber One also indicates a desire to make the subscription more valuable and comprehensive, which could accelerate its adoption. In the long term, this could change the urban mobility landscape, making private cars more convenient, but at the same time tying the user even more closely to the Uber ecosystem for solving all transportation needs.
