Buzz
Vydia acquired by Gamma for $1 billion
Vydia, a portfolio company under Mr Eazi’s venture capital fund, Zagadat Capital, has been acquired for $1 billion.
The digital audio and video distribution infrastructure company was acquired by American firm, gamma.
We’re extremely excited to announce that Vydia has been acquired by gamma.
gamma. was founded by Apple Music’s former Global Creative Director Larry Jackson, and veteran music exec Ike Youssef, with financial backing from Eldridge, Apple, and A24.
This is just the beginning. pic.twitter.com/FoChydQNyo
— V Y D I A (@vydiaofficial) March 8, 2023
Gamma is a music and technology firm owned by former Apple Music Executive, Larry Jackson.
Speaking on the acquisition, Jackson said Vydia epitomises the vision of gamma as an ideas company.
Ever since launching the VC fund Zagadat Capital in 2021, the company has invested in tech companies such as remittance-based lending company Paisa, Eden Life, African fintech Pawapay, and most recently South Africa basketball team CapeTown Tigers.
Prior to these, some of the first investments went into music tech 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.
Source: Graphic.com.gh