SpotHero, a parking inventory and booking start-up, has acquired its rival Parking Panda for an undisclosed sum. SpotHero has raised $27m to fund its operations, which direct drivers to available parking spaces across the US. The acquisition of Parking Panda, which focuses on parking at events, will expand the service into Toronto and Edmonton in Canada, and give its B2B-focused SpotHero for Business feature more traction. “Parking Panda is one of our most successful businesses ever,” said CEO Chris Chen.
SpotHero, a parking inventory and booking start-up, has acquired its rival Parking Panda for an undisclosed sum. SpotHero has raised $27m to fund its operations, which direct drivers to available parking spaces across the US. The acquisition of Parking Panda, which focuses on parking at events, will expand the service into Toronto and Edmonton in Canada, and give its B2B-focused SpotHero for Business feature more traction. Parking Panda's engineering team will also help SpotHero to build its own platform.