*Swizz Beatz and Timbaland are adamant that they still own 100 percent of the VERZUZ platform, but side-eye abounds among some fans.
The pair insisted on Instagram Live last Saturday (May 13) that they are still full co-owners of the battle brand, which pits two similar music acts in the same genre in a friendly back and forth battle of songs from their respective catalogs. A DJ battle between Swizz Beatz and Timbaland kicked off the platform in March of 2020, as a way to entertain quarantined folks during the COVID-19 pandemic.
“VERZUZ is still 100 percent Black-owned,” Swizz said on IG Live. “50 percent on the top of your screen, and 50 percent on the bottom of your screen. In case you ain’t know. Word to Allah. Okay?”
He continued: “It was built for the people, and it will stay with the people. And we love everybody.” Watch below:
Swizz Beatz & Timbaland claim they still own 100% of Verzuz despite Triller sale ????https://t.co/52WCdDsvQr pic.twitter.com/n8IijkhXj1
— HipHopDX (@HipHopDX) May 14, 2023
Viewers, however, pushed back against their claim, citing published reports that the duo sold a majority of VERZUZ shares to Triller back in March 2021.
Variety reported at the time that deal with Triller Network had Triller acquiring VERZUZ, with Swizz Beatz and Timbaland still retaining company shares and joining the Triller management team. The deal also reportedly “allocated part of their equity stake to the 43 performers who’ve appeared on Verzuz to date to help oversee music and other company strategies.”
Bobby Sarnevesht, executive chairman and co-owner of Triller, said in press release announcing the acquisition: “There is no more disruptive and innovative brand in music today than Verzuz. Both Triller and Verzuz share the ‘artist first, music first’ vision. We view this acquisition as more of a partnership than an acquisition, as Swizz, Timbaland and the other 43 artists who are all becoming shareholders and partners in Triller Verzuz from this day forward become our voice.”
Per a September 2022 article in The Hollywood Reporter, the pair reached a settlement in a lawsuit they filed against Triller’s CEO, Ryan Kavanaugh, for failing to provide the $28 million infusion of capital due as part of the acquisition deal. The outlet also reported that Kavanaugh’s Proxima Media is the majority owner of VERZUZ.
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