The real-life VERZUZ between the team of Swizz Beats and Timbaland and Triller has concluded.
And it appears it’s once again a case of kumbaya.
Full story below…
As reported, drama erupted when Swizz and Timbo – who are the founders of VERZUZ – went public with their claims that the video platform wasn’t holding up its end of the deal after buying out the popular battle platform.
Per the hitmakers, they were owed $28 million in missing payments. A lawsuit was filed in tandem with the founders going public with their grievances.
Responding to the suit, reps for Triller clapped back at the time with an interesting alternate take on the matter, saying:
“It is unfortunate they elected to elevate this to the press as a ‘legal shakedown’ and it ignores the fact that they have deliverables which include, but are not limited to, delivery of a set number of Verzuz for 2022. We hope this was just overzealous lawyers jumping the gun… If this does proceed in court we look forward to a judgment that weighs all the facts.“
Now, in an interesting development, all parties have jointly announced that the matter has been resolved.
“Verzuz has always been a platform that is by the artists, for the artists and with the people. We’re glad to come to an amicable agreement with Triller and continue giving fans the music and community that they’ve come to know and love from the brand.”
Bobby Sarnevesht, Triller’s executive chairman and co-founder added:
“Verzuz and Triller will always be a safe place and outlet for creators and their art. Nothing will change that. Nothing will change that. Creators started this and will continue building it. This is a victorious moment in the Triller and Verzuz relationship as we march together toward the public markets. Stay tuned.”
Specifics of the settlement haven’t been shared. However, it was confirmed that “the settlement will increase the ownership stake given to the artists that Timbaland and Swizz Beatz brought to Triller as part of the original deal.”
