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Nike acquires sports platform TraceMe to boost content strategy

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Nike acquires sports platform TraceMe to boost content strategy

Nike Inc. on Oct. 12 acquired TraceMe Inc., a sports platform that was founded by NFL quarterback Russell Wilson.

In a statement to technology news platform TechCrunch, a Nike spokesperson confirmed the news and said: "Nike has acquired TraceMe to supplement the company's content strategy on Nike-owned platforms."

Financial terms of the transaction were not disclosed.

In its series A funding round in 2017, TradeMe had raised at least $9 million from investors including Seattle-based Madrona Venture Group LLC, Amazon.com Inc. Founder, Chairman and CEO Jeff Bezos' fund, Bezos Expeditions LLC, as well as angel investors Joe Tsai, Mike Mahan, Kenny Dichter and YouTube co-founder Chad Hurley, according to data from S&P Global Market Intelligence.

TraceMe's social platform offers access to elite athletes, artists and celebrities. TechCrunch said the startup has since branched out to a new service called Tally that aims to connect sports teams, broadcasters and venues to fans.

A source reportedly told TechCrunch that Nike's acquisition involved both the intellectual property of TradeMe, as well as its team.

Nike did not immediately respond to S&P Global Market Intelligence's request for comment.