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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, 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.