Singer Mr Eazi sells portfolio company, Vydia, for $1bn
Oluwatosin Ajibade, popularly known as Mr Eazi, a Nigerian singer and business mogul, has sold Vydia, a portfolio company of his venture capital fund, Zagadat Capital, for $1 billion.
Gamma, an American firm, has acquired the digital audio and video distribution infrastructure company.
Larry Jackson, a former Apple Music executive, owns Gamma, a music and technology company.
In a statement about the acquisition, Jackson stated that Vydia embodies gamma’s vision of being an ideas company.
The deal is the biggest in the history of Afrobeats.
Mr Eazi is also the owner of music distribution platform emPawa.
The platform has previously worked with artists like Mr Eazi, Fave, Joeboy, Darkavibes, and Bella Alubo.