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ShotTracker gets backing from Verizon in $11 million financing round

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Basketball data analytics firm ShotTracker.

Source: ShotTracker

Sports tech firm ShotTracker on Thursday announced an $11 million financing round led by Verizon Ventures and broadcast equipment manufacturer Evertz Technologies, based in Canada. Terms of the financing were not made public. 

ShotTracker is a data analytics company co-founded by Davyeon Ross that provides real-time basketball stats and insight for teams and broadcasters. Its system uses sensors placed around arenas to track movement in real-time, allowing players to identify their most productive areas on the court. It uses sensors in basketballs, players’ jerseys and court sensors to create a 3D court for enhanced analytics.

ShotTracker’s systems cost roughly $45,000 to install and are used by more than 60 NCAA men’s and women’s college basketball schools, with partners including apparel companies Nike, Adidas, and Under Armour.

ShotTracker said it plans to use the funds to “accelerate its deployment across NCAA Division I Power 6 Basketball Conferences, expand hiring, further key partnerships and enhance sensor capabilities and data capture for players, coaches, fans and broadcasters.”

With Verizon onboard, ShotTracker said it will also improve its cloud infrastructure by adding 5G capabilities. 

Basketball data analytics firm ShotTracker.

Source: ShotTracker

“ShotTracker’s real-time sports data will transform fan experiences, athletic performance, sports broadcast and more,” said Michelle McCarthy, Verizon Ventures’ managing director, in a statement. “We’re proud to invest in a team of industry veterans as they pave the way for data capture in gameplay to improve all areas of the sport.”

Added ShotTracker CEO, Bill Moses: “The entire ShotTracker team is excited to have the opportunity of working with two such farsighted technology leaders as Evertz and Verizon Ventures, each of whom brings special capabilities to enable us to fulfill our vision of what truly real-time statistics and analytics can mean.”

Last February, CNBC reported ShotTracker joined a partnership with sports marketing firm Learfield IMG, which represents ShotTracker on the sponsorship marketplace.

Before this funding round, the firm raised more than $25 million from investors, including NBA legend Magic Johnson and former NBA commissioner David Stern, who passed away last January.


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Pfizer CEO joins World Health Organization at press conference on the coronavirus outbreak

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World Health Organization officials are holding a press conference on Friday to update the public on the coronavirus outbreak that has infected more than 97.6 million people across the world.

Albert Bourla, CEO of Pfizer, which manufactures one of the Covid-19 vaccines that’s been authorized in the U.S. and Europe, is scheduled to join WHO officials at the virtual briefing. Dr. Seth Berkley, CEO of the public-private immunization partnership Gavi, and Henrietta Fore, Executive Director of UNICEF, are also scheduled to join the briefing.

Earlier this week, the WHO’s Director-General Tedros Adhanom Ghebreyesus warned that the world is on the brink of a “catastrophic moral failure” if it doesn’t fairly distribute the available doses of the Covid-19 vaccines across the world. He added that the discovery of several more transmissible strains of the virus in different parts of the world increases the urgency of the vaccine rollout.

“It’s not right that younger, healthier adults in rich countries are vaccinated before health workers and older people in poorer countries,” he said Monday. “There will be enough vaccine for everybody, but right now we must work together as one global family to prioritize [those] most at risk of serious diseases and death in all countries.”

The WHO, in partnership with Gavi and the Coalition for Epidemic Preparedness Innovations, established the COVAX facility last year to ensure equitable vaccine access for every country in the world. It aims deliver 2 billion doses of safe, effective vaccines by the end of 2021.

Read CNBC’s live updates to see the latest news on the Covid-19 outbreak.


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New York Gov. Andrew Cuomo holds a press briefing on Covid pandemic

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New York Gov. Andrew Cuomo is scheduled to hold a press briefing Friday on the coronavirus pandemic as the state continues to push forward with its vaccination efforts.

On Thursday, the Democratic governor’s office said that vaccine distribution sites have administered 93% of the first Covid-19 vaccine doses they’ve received, and 91% of the first and second doses. Both drugs from Pfizer and Moderna require two doses spread weeks apart.

Cuomo said the state has ramped up how many shots it’s able to give in a day, but now officials are concerned that they’ll run out of shots if the federal government doesn’t send more.

“We are racing to administer the vaccine as quickly as possible while doing everything we can to reduce the infection rate. We’ve made progress on both fronts since the post-holiday surge but there’s a long way to go before we reach the light at the end of the tunnel,” Cuomo said in a statement.

Read CNBC’s live updates to see the latest news on the Covid-19 outbreak.


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Ford, IBM, Intel and Seagate

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IBM’s logo seen displayed on a smartphone.

Rafael Henrique | SOPA Images | LightRocket | Getty Images

Check out the companies making headlines in midday trading.

Ford — Shares of the U.S. automaker dipped about 1%, retreating from an all-time high hit in the previous session. The stock jumped 6.2% Thursday following positive comments from Deutsche Bank and Barclays on Ford’s product plans and reporting of fourth-quarter earnings on Feb. 4. JPMorgan also upgraded Ford to overweight from equal weight on Friday. The stock has rallied more than 16% this week, on pace for its best week since June.

IBM — Shares of IBM sank 10% following its earnings report that showed a decline in revenue larger than analysts expected. IBM made $20.37 billion in revenue in the fourth quarter, missing estimates of $20.67 billion, according to Refinitiv. Earnings, however, topped estimates.

Intel — Shares of the chipmaker tumbled more than 8% despite the company’s better-than-expected results for its fourth quarter. Intel generated $1.52 in adjusted earnings per share on $20 billion in revenue, beating Wall Street expectations of $1.10 per share and $17.49 billion in revenue, according to Refinitiv. Part of the equity price decline was a reversal of a late-session spike on Thursday that followed an early release of Intel’s results.

CSX Corp. — Shares of the railroad company slid more than 2% despite CSX beating top and bottom line estimates during the fourth quarter. The company reported $1.04 in profit per share on an adjusted basis, which was 3 cents above consensus forecasts. Revenue came in at $2.83 billion, which was ahead of the expected $2.77 billion, according to estimates from FactSet.

Seagate Technology — Seagate shares dropped nearly 6% in midday trading despite decent earnings results. The downward pressure is likely thanks in part to the already-high expectations analysts and investors had for the company ahead of its quarterly report. Wedbush analyst Matt Bryson wrote Friday morning: “Net, without a clear driver of near- term upside, or certainty around a longer term technological advantage, we are maintaining our Neutral view on the name.”

PPG Industries — The paint maker’s stock also dropped in midday trading notwithstanding profit and sales that topped expectations for the fourth quarter. Atlantic Equities analyst Sam Hudson noted that the company failed to provide fiscal-year 2021 guidance and wrote that a recent spike in raw materials costs could impact its second quarter results.

— CNBC’s Pippa Stevens, Yun Li, Maggie Fitzgerald and Jesse Pound contributed reporting


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