Acquisition will bring parking reservation capabilities to the Uber app and enable more travel options and benefits for Uber’s consumer base

Company Website: https://www.uber.com/
SAN FRANCISCO & CHICAGO -- (Business Wire)

Uber Technologies, Inc. (NYSE: UBER) and SpotHero, Inc. today announced that they have reached an agreement for Uber to acquire SpotHero, bringing parking reservations onto the Uber app.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260219789097/en/

Uber to acquire SpotHero

Since launching in 2011, SpotHero has become the industry-leading parking reservation app, with millions of drivers easily finding affordable parking at more than 13,000 garages, lots, and valets across more than 400 cities in the U.S. and Canada.

Uber plans to offer a native, in-app parking reservation experience, powered by SpotHero, with a focus on parking for commuters, as well as at events, venues, and airports. In time, Uber One members can also expect to see parking benefits as part of their membership.

In turn, parking operators working with SpotHero will benefit from access to Uber’s large consumer base and network of vehicle charging and fleet partners.

“We’ve built Uber around giving people more ways to get around without needing a car. But for the moments when people do choose to drive, SpotHero on the Uber app will make the experience easier than ever, and bring more people into the Uber ecosystem,” said Uber CEO Dara Khosrowshahi.

“We’ve spent 15 years building SpotHero into the most trusted, high-performing digital parking network in North America. 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,” said Mark Lawrence, CEO of SpotHero.

The acquisition is subject to the receipt of regulatory approval and satisfaction of other customary closing conditions and is expected to close in the first half of 2026.

Forward-Looking Statements

This press release contains forward-looking statements regarding Uber’s future business expectations which involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Uber’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors relate to, among others: risks and uncertainties related to the pending acquisition of SpotHero, including the failure to obtain, or delays in obtaining, required regulatory approval, the risk that such approval may result in the imposition of conditions that could adversely affect Uber or the expected benefits of the proposed transaction, or the failure to satisfy any of the closing conditions to the proposed transaction on a timely basis or at all; costs, expenses or difficulties related to the acquisition of SpotHero; failure to realize the expected benefits and synergies of the proposed transaction in the expected timeframes or at all; the potential impact of the announcement, pendency or consummation of the proposed transaction on relationships with Uber’s and/or SpotHero’s employees, parking operators, suppliers and other business partners; the risk of litigation or regulatory actions to Uber and/or SpotHero; the inability to retain key personnel; changes in legislation or government regulations affecting Uber or SpotHero; and economic financial, social or political conditions that could adversely affect Uber, SpotHero, or the proposed transaction. For additional information on other potential risks and uncertainties that could cause actual results to differ from the results predicted, please see Uber’s most recent annual report on Form 10-K for the year ended December 31, 2025 and subsequent quarterly reports, annual reports and other filings filed with the Securities and Exchange Commission from time to time. All information provided in this release and in the attachments is as of the date of this press release and any forward-looking statements contained herein are based on assumptions that Uber believes to be reasonable as of this date. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Uber on the date hereof. Uber undertakes no duty to update this information unless required by law.

About Uber

Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 72 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

About SpotHero

SpotHero is the leading parking reservation marketplace in North America, with over $2 billion in parking reservations sold. Millions of drivers use SpotHero’s mobile apps and website to find, book, and access off-street parking in more than 13,000 locations in over 400 cities in the U.S. and Canada. Leading parking operators partner with SpotHero to boost the visibility of their inventory and grow their digital revenue.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260219789097/en/

Contacts:

For Uber: press@uber.com

Investors & Analysts:investor.uber.com

For SpotHero:press@spothero.com

Source: Uber Technologies, Inc.