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Vydia, a portfolio company of Mr Eazi’s venture capital firm, Zagadat Capital, has been sold for $1 billion.
The organization that created the framework for the dissemination of digital music and video was bought by the American business Gamma. Gamma, a music and technology startup, is owned by former Apple executive Larry Jackson.
Speaking on the acquisition, Jackson said Vydia epitomises the vision of gamma as an ideas company. Mr Eazi is also the owner of the streaming music business emPawa.
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Announcing the acquisition, the official page of Vydia announced thus;
“We’re extremely excited to announce that Vydia has been acquired by gamma. gamma. was founded by Apple ’s former Global Creative Director Larry Jackson, and veteran music exec Ike Youssef, with financial backing from Eldridge, Apple, and A24. This is just the beginning.”
Meanwhile, singer Joeboy recently revealed in a fresh interview about the working relationship he has with his boss and the man who nurtured his talent, Mr Eazi.
Joeboy signed with Mr Eazi’s Empawa Africa in 2017. He claimed that after dropping off a song and sending the accompanying music video to every musician he could think of, Eazi got in touch with him.
Joeboy explained in an interview with a UK-based broadcaster that a friend had alerted him to a comment made by Eazi on his post.
After hearing his music, the famous singer got in touch with him. He claimed that Mr Eazi gave him two choices after telling him that he enjoyed the music.
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The leader of Empawa Africa gave him the option of receiving $5,000 or having Eazi direct and promote his music video.
Joeboy claimed that when he asked his pals for advice, they advised him to take the money because Mr Eazi might forget him.
The singer said that after hours of brainstorming, he decided to settle on the long-term benefit that will be harnessed from the mainstream singer.