Uber To Allow Parking Reservations On App With New Acquisition

The acquisition is aimed at bringing parking reservations onto the Uber app powered by Spothero, the company said.

Ride-hailing platform Uber Technologies (UBER) said on Monday that it is acquiring parking app Spothero for an undisclosed amount.  

The acquisition is aimed at bringing parking reservations onto the Uber app powered by Spothero, the company said. The focus will be on parking for commuters, as well as at events, venues, and airports. Uber One members can also expect parking benefits as part of membership in due time, the company said.

UBER shares closed down 4% in the regular trading session on Monday. 

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