Verzuz was one of the better things to come out of the pandemic, a smash cultural success founded by producers Swizz Beatz and Timbaland. After selling their idea to social media video-sharing company Triller in January 2021, Swizz and Timbo were expecting a massive payday from the company. Instead, the company has defaulted on payments – and now the duo is suing Triller, to the tune of $28 million.
According to TMZ, the company defaulted on the deal after only two payments. Swizz and Timbo initially settled with the company after the first defaulted payment but Triller still hadn’t paid the remaining balance, prompting the lawsuit.
Swizz and Timbaland are seeking $28 million, plus interest.
Verzuz hasn’t held an event since July 17 with reggaeton kings Luny Tunes and DJ Nelson.
Initially, Verzuz had a deal with Apple TV to highlight various battles from the likes of Gucci Mane and Jeezy to Monica and Brandy. After the deal with Triller, Swizz and Timbo became large shareholders in the company and gave equity to all of the artists who participated in Verzuz before the deal.
The list of artists who already participated and are now shareholders in Triller include John Legend, DMX, Alicia Keys, 2 Chainz, Rick Ross, Too $hort, Patti LaBelle, Gucci Mane, Jeezy, E-40, Bounty Killer, Ludacris, RZA, The Dream, Babyface, Nelly, Jagged Edge, Fred Hammond, Jadakiss, Fabolous, Brandy, Monica, Gladys Knight, Boi-1da, Hit-Boy, Ne-Yo, Johnta Austin, Scott Storch, T-Pain, Lil Jon, DJ Premier, Mannie Fresh, Erykah Badu, Jill Scott, Beenie Man, Bounty Killer, 112, Kirk Franklin, Sean Garrett, Teddy Riley, and D’Angelo.
Swizz Beatz & Timbaland Suing Triller For $28M Over Verzuz was originally published on hot963.com