Nigerian singer and entrepreneur Oluwatosin Ajibade, known popularly as Mr Eazi, has achieved a significant milestone. He recently sold Vydia, a portfolio company of his venture capital fund, Zagadat Capital, for a whopping $1 billion. This historic deal has cemented Mr Eazi’s position as a successful business mogul.
The American firm, Gamma, acquired Vydia, a digital audio and video distribution infrastructure company. Gamma is a music and technology company owned by former Apple Music executive Larry Jackson. The acquisition is the biggest in the history of Afrobeats. Furthermore, it marks a significant achievement for Mr Eazi and his team.
Speaking on the acquisition, Jackson expressed his admiration for Vydia, which epitomizes Gamma’s vision as an ideas company. The sale of Vydia showcases the immense potential of African startups and their ability to compete with established players in the global market.
Mr Eazi is also the owner of the music distribution platform emPawa. He has previously worked with top artists such as Fave, Joeboy, Darkavibes, and Bella Alubo. This successful sale is furthermore a testament to his entrepreneurial skills. It also shows his commitment to supporting the growth of the African music industry.
The sale of Vydia is a significant milestone for Mr Eazi, who has been a vocal advocate for African entrepreneurs and startups. With this billion-dollar sale, Mr Eazi has demonstrated that African startups can achieve remarkable success and compete on the global stage with the right mindset, resources, and support.
cc: PrimeBusiness
