Uber Snaps Up Parking App SpotHero

Uber just added parking to its growing transportation empire. The ride-hailing giant is buying SpotHero, the app that lets users reserve parking spots in advance at busy locations.

SpotHero built its business around solving one of driving's most annoying problems — finding parking in crowded downtowns, at sporting events, concerts, and airports. The company was last valued at $290 million. Uber didn't disclose what it's paying.

The acquisition slots neatly into Uber's broader mobility play. Users will be able to book parking reservations for events, venues, and airports directly through Uber's platform. It's a logical extension — Uber already moves people around cities, so helping them park when they drive themselves fills a gap in the ecosystem.

Financial terms remain under wraps, leaving the question of whether SpotHero's investors are celebrating or just relieved.