Mr Eazi Sells Off Vydia For $1 Billion
Vydia, a portfolio company of Eazi’s venture capital fund, Zagadat Capital, was acquired for $1 billion.
American company Gamma acquired a company that provided digital audio and video distribution infrastructure.
Former Apple Music executive Larry Jackson is the owner of music and technology company Gamma.
When discussing the acquisition, Jackson described Vidya as the embodiment of Gamma’s concept of an idea company.
We are very pleased to announce that Vydia has been acquired by gamma.
gamma. was founded by Larry Jackson, former global creative director of Apple Music, and veteran music executive Ike Youssef, with financial backing from Eldridge, Apple, and his A24.
This is just the beginning. pic.twitter.com/FoChydQNyo
—VYDIA (@vydiaofficial) March 8, 2023
Since launching venture capital fund Zagadat Capital in 2021, the business has invested in technology companies such as Eden Life, African fintech Powerpay, South Africa’s Cape Town Tigers basketball franchise, and remittance-based finance company Paisa. rice field.
These were followed by early investments in companies providing technology to the music industry, including creative finance/IP firm emPawa (his company), ticketing platform SHOOBS, and American music distribution platform Vydia. before investing in the platform.