Market News

NBA Inks Deal with Alibaba’s Ant Group

The immense popularity of the American National Basketball Association (NBA) in China has led to the local NBA league entering into a deal with the Chinese fintech company, Ant Group. Chinese tech giant, Alibaba (BABA) has a 33% stake in the Ant Group.

As a part of this strategic partnership, Ant Group, and the NBA will develop original content, an NBA mini-program, digital collectibles, and joint membership and marketing campaigns for Ant’s online and mobile payment platform, Alipay.

The NBA has already launched a channel on Alipay which provides user-generated content created by NBA China’s network of influencers and Alipay’s authorized content creators.

Analysts are bullish about BABA stock with a Strong Buy consensus rating based on nine unanimous Buys.

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