Wednesday, August 17, 2022

Timberland and Swizz Beatz Sue Triller Over Verzuz Deal


During the Covid pandemic lockdown Hip Hop music producers Timbaland and Swizz Beatz organized popular virtual artist battles dubbed Verzuz, that they eventually sold to the video hosting platform Triller. 

Apparently Triller never paid up and now Tim and Swizz are suing...

From Billboard 

Eighteen months after Timbaland and Swizz Beatz sold their popular Verzuz livestream series to Triller, the two are now suing the social media platform for allegedly failing to pay them a whopping $28 million that they’re still owed from the deal.
Triller, a TikTok-like service that allows users to create and share short videos, announced in March 2021 that it would pay an undisclosed sum in cash and equity to acquire Verzuz – a breakout hit during the pandemic in which two artists square off in a livestreamed music battle.
But in a lawsuit filed Tuesday (Aug. 16) in Los Angeles Superior Court, Timbaland (Timothy Mosley) and Swizz Beatz (Kasseem Daoud Dean) say Triller has failed to actually pay for the company it purchased. After initial payments last year and early this year, the pair of hitmakers say the company has refused to hand over more than $28 million that they’re still owed.
“Defendants have failed and refused to respond to plaintiffs’ written notice and demand for payment,” the pair’s lawyers wrote in the complaint. “To date, defendants have failed and refused to make any payment to Mosley and Dean of the past due sums due and owing, and defendants continue in default of their payment obligations.”
In a statement on Tuesday evening, Triller called the lawsuit “truly unfortunate” and said it hoped it was “nothing more than a misunderstanding driven by lawyers.”
“We do not wish to air our dirty laundry in the press, but we have paid Swizz and Tim millions in cash and in stock,” the company wrote. “No one has benefited as much from Triller to-date. Triller has helped fuel Verzuz to new heights – making it the global cultural phenomenon it is today. We hope to resolve this amicably and quickly, and truly hope it’s just a misunderstanding. If we are forced to defend it, we are more than optimistic the truth and facts are on our side.”

14 comments:

Anonymous said...

This is why Black folks should keep some things to themselves.

Anonymous said...

Damn! So Triller a ponzi scam?????

Unknown said...

Rich folks stay rich by not paying for "bought assets". Just look at Elon Musk and his Twitter deal. Dude thinks he can post a poll on Twitter and that absolves him of paying it's shareholders billions of dollars. This Triller company needs to pay, too.

Anonymous said...

10:01 that part.

Anonymous said...

Clearly these retards didn't do their due diligence on the company and have their legal team move funds into an escrow account upon signing on the dotted line. Triller gassed them up with an IPO sales pitch and they got all their celeb friends to invest pre-IPO. Ultimately they got finessed like Beijing Biden and Heels Up Harris did black folk. End of story.

Anonymous said...

@11:08 I hate lames like you that try to work your dumb political views into everything. You vote for whomever you want to and others will do the same. Imagine calling someone else a retard and talking about due diligence while underhandedly trying to promote Trump, one of the worst presidents in history who wouldn't know due diligence if it hit him in the face.

Anonymous said...

After the pandemic Covid vaccine given was available, ppl started going outside again and doing other things. Verzuz was not hot anymore. They stop making money on some of the match ups that no one cared about. I hope they have a solid contract.

Anonymous said...

11:08 They got hoodwinked and bamboozled but this is not a political issue. Are you an escapee from that raggedy Sandra Rose site?

Sunno said...

I don't feel bad, they made something the culture loved and sold it to the yt man. This is what they get.

Anonymous said...

This was OK to keep people entertained during lockdown, but may have run its course.

Anonymous said...

Triller really thought that folks were going to pay to watch it online. Folks went outside and said nope.

NyahbinghiObeahWomanWarrior said...

Sue those raggedly bitches.

Anonymous said...

Niggas always selling their shit and got the nerve to be mad when the Muthafuckas they sold out to do some fuck shit

Anonymous said...

It's not a good business model right now.

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