Australian peer-to-peer car parking marketplace Spacer has acquired U.S.-based Roost, which provides the same services stateside from its San Francisco-based headquarters.
It’s a move that lets Spacer make its entry into the U.S. market without having to establish its own office and start from scratch.
The deal will include rebranding all of Roost’s existing U.S. service offerings under the Spacer name, and Roost CEO Jonathan Gillon will also be departing the company to focus on building new companies as part of the deal.
The plan is to expand Roost’s U.S. operations to SF, Chicago and Washington, D.C. as Spacer’s initial U.S. market entry, before expanding across the entire country.
Peer-to-peer on-demadn parking rentals is a market with a lot of potential in urban areas where available spaces are at a premium.
The cost of renting from legacy parking providers, and via spots made available by condo owners and others who have spaces but aren’t using the, are either cost-prohibitive, restrictive in terms of term of commitment required, or simply too difficult to find (many condo owners just post availability on internal notice boards, for instance).