StellarAlgo signs multi-year deal with the NBA
Calgary, Canada – StellarAlgo & Bloomberg – May 24, 2023
The National Basketball Association has signed a multiyear deal with consumer data firm StellarAlgo, with the league’s investment arm taking an ownership stake in the firm as it looks to grow its portfolio.
The partnership was signed on behalf of the league’s franchises, which will have access to fan data services for matters such as e-commerce, venues, ticketing and social media. Financial terms were not disclosed, though the league said its involvement in the company is “meaningful.”
The league is focused on early-stage rounds but is considering larger deals as well. Management decided to take a stake in StellarAlgo after the Brooklyn Nets, Portland Trail Blazers, Milwaukee Bucks and Sacramento Kings forged their own relationships with the Calgary-based data company.