SAN FRANCISCO & CHICAGO--(BUSINESS WIRE)--Feb 23, 2026--
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.
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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.
Uber to acquire SpotHero
GENEVA (AP) — A U.S. official focusing on arms control on Monday provided what he called new, declassified details of a Chinese underground nuclear test nearly six years ago and urged countries to press China and Russia to do more on nuclear disarmament.
Christopher Yeaw, assistant secretary of state for the bureau of arms control and nonproliferation, spoke to a U.N.-backed body after the last nuclear arms pact between the United States and Russia expired this month. That has ended limits on the arsenals of the world’s biggest nuclear powers and raised concerns about a possible new arms race.
Yeaw called for greater transparency from China and pointed to some shortcomings of the New START treaty, such as that it didn't address Russia's large arsenal of nonstrategic nuclear weapons — which counts up to 2,000 warheads.
“But perhaps its greatest flaw was that New START did not account for the unprecedented, deliberate, rapid and opaque nuclear weapons buildup by China,” he told the U.N.-backed Conference on Disarmament.
Yeaw said Beijing “has deliberately, and without constraint, massively expanded its nuclear arsenal” despite its assurances to the contrary. He lamented a lack of transparency about China's “endpoint” or goals.
“We believe China may achieve parity within the next four or five years,” he said.
Beijing has balked at any restrictions on its smaller but growing nuclear arsenal and denies carrying out such a nuclear test.
Yeaw met Monday with a Russian delegation and was to meet with Chinese and other delegations Tuesday in Geneva. U.S. officials have already held repeated meetings with partners, including nuclear-armed France and Britain.
In his speech, Yeaw cited an explosion detected at the Lop Nur underground site in western China as a magnitude 2.75 seismic event on June 22, 2020, based on information collected from an international monitoring system station in neighboring Kazakhstan.
“It was a probable explosion based upon comparisons between historic explosions and earthquakes,” he said. “The seismic signals were indicative of a single fire explosion, not typical of mining explosions.”
Yeaw said China has made it “difficult” for the international community to monitor its testing activities and that during talks, it rejected allowing seismic testing stations to be put at a comparable distance to Lop Nur that the U.S. allows near its test site in Nevada.
China's ambassador to the conference said Monday that Beijing “resolutely rejects the unfounded accusations” by the U.S. and lashed out at “continued distortion and smearing of China’s nuclear policy by certain countries.”
“The U.S. accusation that China conducted a nuclear explosion test is completely unfounded and is merely a pretext for resuming its own nuclear testing,” Ambassador Jian Shen said. “The U.S.’s practice of smearing other countries to evade international arms control obligations seriously damages its own international standing.”
If China conducted yield-producing nuclear explosive tests, it would severely tarnish its reputation as a responsible nuclear power, said Tong Zhao, a senior fellow focused on nuclear policy and China at the Carnegie Endowment for International Peace in Washington.
Some in the U.S. could cite that as justification for testing weapons again.
“There are American nuclear weapon scientists who genuinely think, no matter what other countries do, that the U.S. needs to resume nuclear testing simply to ensure its own arsenal would be reliable in the long run,” Zhao said.
President Donald Trump in October pointed to U.S. intentions to resume nuclear tests for the first time since 1992, but Energy Secretary Chris Wright later said such tests would not include nuclear explosions.
In his first term, Trump tried and failed to push for a three-way nuclear pact involving China.
Just after the New START pact expired, Secretary of State Marco Rubio said the U.S. was “pursuing all avenues” to fulfill Trump’s “desire for a world with fewer of these awful weapons” but insisted Washington would not stand by while Russia and China expand their nuclear forces.
“Since 2020, China has increased its nuclear weapons stockpile from the low 200s to more than 600 and is on pace to have more than 1,000 warheads by 2030,” Rubio wrote on Substack this month.
The U.S. has expressed a willingness to pursue multiple diplomatic avenues over the issue — whether bilateral, in a small group of countries or in broader multilateral talks.
“We are looking to all of you to help encourage nuclear-weapon states like China and Russia to engage meaningfully in a multilateral process,” Yeam told the conference, which brings together some 65 countries on issues like nuclear, biological and chemical weapons.
Shen said China has consistently supported the goals of the Comprehensive Nuclear Test Ban Treaty, “always adhered” to the commitments of the five nuclear weapons states to suspend nuclear testing and “never” engaged in activities that violate the treaty.
He also suggested Beijing, which has been on a vigorous military buildup in recent years, still has fewer nuclear weapons than the U.S. or Russia and said it was “unfair, unreasonable and unfeasible” to demand China engage in three-way nuclear arms control talks.
“China’s nuclear arsenal is not on the same scale as the country with the largest nuclear arsenal, and the strategic security environment faced by China’s nuclear policy is completely different from that of the U.S.,” Shen said.
Associated Press writers Didi Tang and Ben Finley in Washington contributed to this report.
FILE - Christopher Yeaw, center, arrives to a Senate Foreign Relations Committee confirmation hearing on his nomination to be an assistant Secretary of State, Nov. 19, 2025, on Capitol Hill in Washington. (AP Photo/Julia Demaree Nikhinson, File)
