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NBA Kings Sumbit Plans For Mixed-Use Development Around Proposed Arena
Published November 25, 2013
VIVA, VIVEK: The BEE's Dale Kasler examined Kings Managing Partner Vivek Ranadive's company, Tibco Software, noting the $1B-a-year company "specializes in 'big data.'" Tibco "provides the unseen nervous system that helps 4,000 corporations and government agencies stay afloat." But Tibco is "more than just the wealth generator" for Ranadive, it is a "source of technological innovation for the Kings." The team's new smartphone app, built with Tibco technology, "relies heavily on big data to market everything from tickets to team jerseys, and it attempts to take fan interaction to a new level." The app, designed by Ranadive's son, Andrew, has "whimsical features like a virtual cowbell." The goal is to "connect to fans individually through their phones, offering personal greetings when they enter Sleep Train Arena, merchandise offers when they're near a team store, and so on." Ranadive said that to avoid conflicts of interest Tibco's BOD "has to sign off on business dealings between the company and the Kings." He added, "It has to make business sense for Tibco." Kasler noted the Kings are "merely the latest organization swept up in Tibco's world, joining a roster that includes Procter & Gamble, Royal Caribbean, Smart & Final and JPMorgan Chase." Tibco has recently "been on a roll," with 58% revenue grew from '08-12. But while Ranadive's stock in the company is "worth around" $330M, profits "have fallen this year." Forrester Research analyst Mike Gualtieri said that Tibco "faces an increasingly crowded field." But he added Tibco is "an extremely well-respected company." The Kings "seem like an extension of the firm," as visitors to the lobby of Tibco's HQs are "greeted by a video of Ranadive being interviewed on CNBC -- followed by a clip of his speech to Kings fans at a rally last spring" (SACRAMENTO BEE, 11/24).