Uber in Talks to Potentially Acquire Parking App SpotHero
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Uber is in discussions to potentially acquire SpotHero, a parking app that allows drivers to reserve and pay for parking in advance. SpotHero, founded in 2011, has raised over $110 million and has a valuation of approximately $290 million. The acquisition could create synergies between parking and ride-hailing services. SpotHero operates in over 11,000 locations across the U.S. and Canada and has established partnerships with Google Maps and Apple Maps. Analysts have a Strong Buy consensus on UBER stock, with a price target suggesting a 42.7% upside potential.
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