Bilt, the company that lets renters earn rewards on rent payments, acquired LAVA for $300 million, gaining its relationships with 56 franchises across the NFL, NBA, MLB, NHL, and MLS. LAVA, which Sacramento Kings owner Vivek Ranadivé founded and chairs, sells software that helps teams and venues recognize fans, run memberships, and hand out rewards, and it connects to more than 300 point-of-sale, ticketing, and payment systems. Bilt plans to let fans use team membership perks at restaurants and shops in its local merchant network, which it says includes over 50,000 businesses and 7 million members.
