Nigerian musician and entrepreneur, Oluwatosin Ajibade popularly known as Mr Eazi, has scored a huge win after his tech startup, VYDIA, got acquired for $1 billion.
Vydia waa acquired by Gamma, multi-faceted company led by former Apple executive Larry Jackson.
Vydia is one of the portfolio companies with venture capital fund, Zagadat Capital, which was founded in 2021 by Mr Eazi.
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Vydia, known for its work with artists such as Akon, Kanye West, Mr Eazi himself, and Anuel, was bought by gamma which has Apple and Eldridge Industries and A24 listed as some of its investors.
Speaking of the deal, Larry Jackson, in a statement said;
Gamma is built with the flexibility and aptitude that creators need to connect with fans on all formats and across all channels – with transparency and no restriction. We are a progressive media company powered by the best-in-class content distribution and analytics software by way of our Vydia acquisition. And central to its core, gamma is an ideas company.
Since Mr. Eazi founded Zagadat Capital in 2021, the business has made investments in innovative firms like the South African basketball team CapeTown Tigers, the remittance-based financing firm Paisa, Eden Life, and African fintech Pawapay.
Before these, some of the initial investments were made in firms that provided technology for the music industry, including the creative finance/IP company emPawa (his company), the ticketing platform SHOOBS, and the American music distribution platform Vydia, whose service emPawa used before to investing in the platform.
