Jordan Avakian Group Partnering With Tech Startup WaitTime, Acquires Stake In Company

Jordan Avakian Group, co-founded by Jeffrey Michael Jordan and Sevan Avakian, has "acquired private equity" in Detroit-based crowd-science startup WaitTime for an "undisclosed amount," according to Tyler Clifford of CRAIN'S DETROIT BUSINESS. WaitTime uses "artificial intelligence technology to provide fans attending sporting and entertainment events with real-time wait times to improve venue efficiencies at restrooms and concessions." The service is provided at Pistons games at the Palace of Auburn Hills, Pacers games at Bankers Life Fieldhouse and "various other venues in and outside" the U.S. With "digital startup and sports and entertainment marketing experience," Jordan, the eldest son of Michael Jordan, and Avakian, a corporate attorney, will "provide strategy development as the company negotiates contracts with other domestic and international teams." WaitTime Founder & CEO Zachary Klima said that the company "expects to expand to about a dozen more arenas this fall" (CRAINSDETROIT.com, 3/22).