Mr Eazi Sells His Company For $1bn

Nigerian singer and businessman Oluwatosin Ajibade, better known as Mr. Eazi, soon-to-be business tycoon and in-law of investor Femi Otedola, has sold Vydia, a portfolio company of his venture capital fund Zagadat Capital, for $1 billion.

The digital audio and video distribution infrastructure company was acquired by the US company Gamma.

Gamma is the music and technology company owned by former Apple Music executive Larry Jackson.

Speaking about the acquisition, Jackson said Vydia embodies Gamma’s vision as a creative agency.

The deal is the largest in Afrobeats history.

Mr. Eazi is also the owner of music distribution platform emPawa.

The platform has previously worked with artists such as Mr Eazi, Fave, Joeboy, Darkavibes and Bella Alubo.

Since Mr Eazi launched Zagadat Capital in 2021, the firm has invested in tech companies such as remittance lender Paisa, Eden Life, African fintech company Pawapay and most recently South African basketball team CapeTown Tigers.

This follows some of the first investments into music tech companies such as creative finance/IP company emPawa (his company), ticketing platform – SHOOBS and US music distribution platform Vydia, whose service emPawa is making financial investments in the platform used before.

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