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Bilt Pays $300 Million for Sports Loyalty Platform Lava

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Bilt Pays $300 Million for Sports Loyalty Platform Lava

Neighborhood commerce and rewards company Bilt is acquiring sports and entertainment loyalty platform Lava, according to a Monday (Nov. 2) news release.

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The $300 million deal brings Lava’s technology and partnerships with 56 professional sports franchises into Bilt’s “rapidly expanding neighborhood commerce ecosystem,” per the release.

“The deal marks a significant step in Bilt’s expansion beyond housing, bringing together two powerful networks: Bilt’s growing ecosystem of residential communities and neighborhood businesses, and Lava’s technology connecting sports teams, venues and their fans,” the release said. “At the center of the strategy is a simple idea. Some of the strongest communities in America aren’t defined just by where people live, but by the teams they love.”

Lava has relationships with teams across the NFL, NBA, MLB, NHL and MLS, including the Detroit Lions, Denver Nuggets, Carolina Hurricanes and LAFC, according to the release.

“We think there’s a really exciting way to start connecting sports loyalty and sports fandom into this neighborhood platform, both, by the way, from connecting our own housing residents into sports experiences, but also connecting sports fans into the neighborhood,” Bilt CEO Ankur Jain said, Bloomberg reported Monday.

Bilt is hoping to use Lava’s “real-time loyalty, identity, stored-value and customer engagement technology” to bolster its “ability to connect the home and neighborhood,” the release said.

In addition, Lava offers artificial intelligence capabilities that can complement Bilt’s own, according to the release.


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