Swizz Beatz And Timbaland's Verzuz Is Going Public In A Reverse Merger Deal With A Video-tech Company SeaChange

In March we saw a major acquisition of Swizz Beatz and Timbaland’s Verzuz platform, The company that acquired the popular Verzuz platform Triller is set to go public and be listed on Nasdaq via a merger with the video streaming platform SeaChange International, according to a report by Variety. 

SeaChange will be changing its name to TrillerVerz Corp. once the merger is complete. The company will go public in early 2022. According to the company’s self-evaluation, they expect a valuation of the “new entity” to be worth approximately $5 billion.

​​“We are thrilled to announce this important milestone of TrillerVerz’s plans to enter the public market,” Triller CEO Mahi de Silva said. “In our short history, we have evolved from a disruptive social media platform and creator of content to one of the world’s most successful platforms where creators, commerce, and culture meet.”

 

TrillerVera has plans to “diversify” revenue streams for the company through exploiting “creator economy and emerging technologies.” Both producers Swizz Beats and Timbaland joined Triller’s board as shareholders and are helping oversee the company’s music department. 

While the clear terms weren’t publicly disclosed, the Swizz and Timbo are generously passing a piece of their equity stake to all of the artists who have previously appeared on the Verzuz platform.

“This is a momentous occasion not only for Verzuz and Triller but the music business as a whole,” Swizz and Timbaland shared in March. “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.”

Regarding the deal’s timetable, the involved parties say they’ve already signed a contract – and inked the dotted lines “a support agreement from SeaChange’s largest shareholder” – with an anticipated wrap date in Q1 2022.

Triller says that it “enables over 750 million interactions with consumers every month,” and this figure reflects “2x year-over-year growth in user engagement and 5.3x year-over-year growth in the number of paying users,” per the release pertaining to the Los Angeles-headquartered company’s IPO.

Surprisingly, Triller – which in 2021 has bought the aforementioned Verzuz as well as Amplify.ai and FITE – is poised “to diversify its revenue streams by expanding its global footprint and investment in new growth opportunities across the creator economy and emerging technologies,” the text relays.

“The combined company will be well-positioned to pursue a robust acquisition strategy that will only strengthen its economic engine,” the release makes clear. Mahi de Silva (who joined Triller from Amplify.ai) will remain CEO of Triller post-merger while also becoming chairman of the board, with SeaChange president and CEO Peter Aquino joining “the TrillerVerz team.” 

Triller has also taken steps to prepare for the quick-approaching stock listing – the platform’s Initial Public Offerring plans have long been rumored – March saw the company license the largest music publishers in the world and finalize (via Verzuz) a multiyear Peloton partnership.

Then, May brought with it a deal between SoundCloud and Triller – and the resolution of a months-long licensing dispute between the latter service and Universal Music Group, ahead of the Big Three record label’s own IPO.

Triller’s pact with SoundCloud could prove significant moving forward, for the music-sharing platform’s most popular creators of 2021 include young acts such as NBA YoungBoy (age 22), Polo G (age 22), BabySantana (age 15), and SoFaygo (age 20).

“We believe TrillerVerz is becoming the voice of youth culture, a brand that sits at the nexus of content, creator, commerce, and culture in the digital world,” Triller head Mahi de Silva indicated in part when announcing his company’s IPO. “Our strategy is to continue to build the world’s largest stage for creators to distribute and monetize viral and engaging content with experiences that elevate culture"