Triller Network has purchased the Swizz Beatz and Timbaland founded livestreaming song battle franchise Verzuz for an undisclosed amount. Though the financial terms of the deal weren’t discussed following the acquisition, a Triller spokesperson said the Grammy-winning producers would become shareholders in the Triller Network.
Triller executive chairman and co-owner Bobby Sarnevesht said in a statement announcing the deal, “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.””With this acquisition, Triller continues its evolution to be at the center of culture and the center of music,” Sarnevesht and fellow Triller Network shareholder Ryan Kavanaugh said in a joint statement. “Who better to help shape Triller’s music future than the top artists in the world overseen by Timbaland and Swizz?”
“By putting Verzuz in the Triller Network ecosystem and expanding the Verzuz brand to be side by side with the powerful Triller app, we will be able to continue to grow and evolve the music business as a whole, as we have been doing,” the music legends said in a joint statement.
According to CNN, Swizz Beatz and Timbaland will share their equity stake with the 43 performers who have appeared on Verzuz since it launched almost a year ago.