Modupe Gbadeyanka
By Modupe Gbadeyanka
A digital audio and video distribution infrastructure company, Vydia, in which a Nigerian singer, Oluwatosin Oluwole Ajibade, otherwise known as Mr Eazi, has a stake, has been acquired by Gamma, a music and technology company owned by a former Apple Music Executive, Mr Larry Jackson.
Vydia was established in 2013 by Mr Roy LaManna, but Mr Eazi invested in the firm through his venture capital fund, Zagadat Capital, and worked with artists like Akon, Kanye West, and Anuel.
Business Post gathered that the company was acquired by Mr Jackson in December 2022 but made the acquisition public last month. However, the worth of the deal was not disclosed by the parties. The company will continue to operate under its current name.
Vydia makes software that helps artists manage the financial side of their business, allowing them to keep track of rights management, royalties and performance analytics in an age when their content can be shared on internet sites like YouTube, Facebook and Instagram.
Commenting on the acquisition of Vydia, Mr Jackson 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.”
As for Mr Eazi’s Zagadat Capital, since its inception in 2021, it has invested in tech companies such as remittance-based lending company, Paisa; Eden Life; African fintech, Pawapay; and most recently, the South Africa basketball team, CapeTown Tigers.
Some of the first investments of the venture capital fund were targeted at music technology companies like creative finance/IP company, emPawa (his company); Ticketing platform – SHOOBS; and American music distribution platform, Vydia, whose service emPawa used before financial investments in the platform.
Editor’s Note:
The article has been updated with the correct information. We apologise for the earlier report, which did not capture the complete details of the acquisition. We will continue to ensure our readers are served authentic information.
