Although the financial specifics of the acquisition was not divulged, the two parties did confirm that Timbaland and Swizz Beatz will continue to be hands-on with the franchise as they join the Triller VERZUZ management team. In addition, the pair are now shareholders in Triller and are giving a part of their equity to all of the 43 performers who have battled it out on VERZUZ.
“This is a momentous occasion not only for Verzuz and Triller but the music business as a whole,” Swizz Beatz and Timbaland said in a joint statement. “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. To have partners in Triller who share our vision, specifically to celebrate and elevate the amazing artists who continue to shape culture around the world and give the consumer more direct access, is game changing.”
“Verzuz isn’t just a company, a platform or an event, it is a cultural movement and phenomenon,” Triller Network’s co-controlling shareholders Bobby Sarnevesht and Ryan Kavanaugh added. “In our generation, Verzuz has made a bigger impact on music than any other company we know. With this acquisition, Triller continues its evolution to be at the center of culture and the center of music. Who better to help shape Triller’s music future than the top artists in the world overseen by Timbaland and Swizz?”