Liberty Media buys QuintEvents for $313M
SBJ--Liberty Media has purchased more than 90% of QuintEvents in a deal that values the company at $313M. Colorado-based Liberty has a plan to capitalize on its already close relations with the highly sought-after hospitality firm, another major bet on sports and entertainment from the conglomerate that also owns F1, the Braves and SiriusXM.
Quint’s business will now be attributed to Liberty Media’s Nasdaq-traded Formula One Group stock, which was trading for $67.20 as of presstime. The sides said that F1 and Quint will remain separate companies, but that this deal will create more opportunities for Quint not just in F1 but also with other entities it has business relations with like with the NBA, MotoGP and Kentucky Derby.
NASCAR, SeatGEEk enter multiyear official partnerships
NASCAR--NASCAR and SeatGeek, the high-growth technology platform that is transforming the live event experience for fans, teams, and venues, Tuesday announced a multiyear partnership. After entering into a relationship that allowed fans to buy and sell tickets to the sold-out Daytona 500 earlier this year, NASCAR and its owned and operated tracks have expanded SeatGeek’s role within the sport as its Official Ticket Marketplace Partner.
“Fans from all 50 states and 41 different countries across five continents descended upon Daytona to experience the 64th running of the Great American race this past February,” said Daryl Wolfe, EVP and Chief Revenue Officer, NASCAR. “Our new partners at SeatGeek did a tremendous job integrating into our ticket sales ecosystem and providing fans with a frictionless process to buy tickets best-suited for their race day needs. Expanding our partnership across all NASCAR owned and operated tracks was an easy decision.”
Pikmin Bloom hands-on: a cute app that tries to make walking a little more magical
THE VERGE--There’s something strangely satisfying about leaving a trail of colorful flowers in your wake as you explore a neighborhood. It’s also one of the main hooks of Pikmin Bloom, the next release from the creator of Pokémon Go, and another app designed to get you moving in the real world. I’ve been able to play the game for the past few days, and while it’s less of a game than Pokémon Go, it definitely adds some magic and fun to a daily walk.
Pimin Bloom is starting its gradual roll out today, and it’s part of a new partnership between Nintendo and Niantic. The game is billed as a collaboration between Nintendo and Niantic’s Tokyo studio, and Mario creator Shigeru Miyamoto even appears in the launch trailer. Pikmin isn’t necessarily the most obvious choice to kick off the partnership, as it’s one of Nintendo’s more obscure franchises. But in a meeting with reporters, Niantic CEO John Hanke said that it’s also a fictional world that fit well with the type of game the studio wanted to make.
Fast Company’s first-ever Brands That Matter list honors companies and nonprofits that have had an undeniable impact on business and culture.
FAST COMPANY INC—Former American track star Mary Cain made headlines in 2019 for sharing her story of abuse and intimidation as a member of Nike’s Oregon Project. Her revelation brought to light a flawed athlete sponsorship system that treats runners as commodities and links their contracts solely to performance, inhibiting their development and opportunities for advocacy outside the confines of the track. In early 2020, Tracksmith, the upstart running apparel brand, hired Cain not just as a runner, but as a full-time community manager. “The harsh reality is you could be curing cancer, but the brands that have paid athletes forever wouldn’t care,” says Cain. “In non-league sports like track, we need opportunities to build careers, to use our voice, and to train and compete to reach the highest levels of our sport.”
Zwift raises $450 million for gamified fitness to cycle past Peloton
VENTUREBEAT--Zwift has raised an astounding $450 million to expand its online fitness platform for runners and cyclists in direct competition with the likes of Peloton, Apple, and others.
The money came from investment powerhouse KKR, as well as Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures, and existing investors such as True (not to be confused with True Ventures, which is an early investor in Peloton), Highland Europe, Novator, and Causeway Media. One of the prominent gaming investors is Ilkka Panaanen, the CEO of Clash of Clans maker Supercell. The investment will help accelerate the development of the company’s core software platform and bring Zwift-designed hardware to market.