Nigerian music sensation and savvy entrepreneur, Oluwatosin Ajibade, popularly known as Mr. Eazi, has sold Vydia, the innovative digital audio and video distribution infrastructure company, for $1 billion.
Vydia was a portfolio company of Mr. Eazi’s venture capital fund, Zagadat Capital, which he co-founded in 2020.
Vydia provides a platform for content creators to distribute their content to multiple music streaming space, such as Spotify, Apple Music, Amazon Music, and YouTube.
The platform also offers an array of tools for content monetization, rights management, and audience growth to help artists and content creators elevate their brands, and reach reach new audience.
The acquisition was made by Gamma, a prominent music and technology firm owned by former Apple Music executive, Larry Jackson.
This deal marks the biggest in the history of Afrobeats, a genre of music that has been gaining global recognition in recent years.
Mr. Eazi’s success in the music industry is well-known, with hit songs such as “Leg Over” and “Pour Me Water” garnering millions of streams worldwide.
Mr. Eazi is also the CEO of emPawa, a music distribution platform that has worked with some of sensational artistes in Nigeria and beyond.
The sale of Vydia is yet another major achievement for Mr. Eazi, who has always been vocal about his desire to empower African creatives and entrepreneurs.
He has been a leading advocate for the growth of the African music industry and has consistently sought innovative ways to create opportunities for emerging artists.
This latest development is a testament to Mr. Eazi’s unwavering dedication to his vision and his ability to create successful businesses.