Beenie Man and Bounty Killer are among the 43 artistes who will benefit from the sale of Verzuz to social networking music video platform Triller.
Verzuz, the popular live stream platform, founded by legendary Hip Hop and R&B producers Swizz Beatz and Timbaland, was acquired by Triller Network, the parent company of the Triller app.
According to Billboard, which broke the news, under the terms of the agreement, the Grammy Award-winning producers and entrepreneurs will also join the Triller Verzuz management team to help oversee music and other company strategies.
Billboard also revealed that the Verzuz founders have become large shareholders in Triller Network and in turn have allocated part of their equity stake to the 46 performers who’ve appeared on Verzuz to date.
That includes Beenie Man and Bounty Killer who staged the first face-to-face Verzuz showdown and the first one done outside of the United States.
That epic and entertaining clash helped push Verzuz' Instagram followers to one million and saw 1.25 billion impressions and over 3.2 million total views.
In a statement following the news, Bobby Sarnevesht, executive chairman and co-owner of Triller said 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."
Swizz and Timbaland said in a joint statement: "We couldn’t be happier to be elevating Verzuz and Triller and to recognise, in a very real way, all of the artists who have helped make Verzuz the global phenomenon it is today. Our dream, the artists’ dream, today is realised, which is no small feat. Triller Verzuz is a company that’s by the artists, for the artists and with the people."