Investment Signals Confidence in Business Model and Growth Strategy
LOS ANGELES, USA — OCTOBER 18, 2017 — Vezt Inc. announced today that Jonathan Teo, Founder and Managing Partner of Binary Capital, has taken an equity ownership stake in the music monetization platform that lets music fans share ownership with artists in their favorite songs. Terms were not disclosed.
“Whether we’re talking about the Walkman or the iPod, music has always proven to be a popular way of moving consumer technology forward,” said Teo in a statement. “Music has a strong network effect and I’m looking forward to helping Vezt help connect together networks of music fans, artists, content creators, and rights-buyers.”
Teo is a Co-Founder and Managing Partner of Binary Capital, a $125 million early-stage investment fund that focuses its investments in companies that operate in the field of consumer technology. Investments Teo has led or participated include Patreon, Instagram, Twitter, and Snapchat. He also serves as an Advisor at Gen Y Capital Partners I LLC and SparkLabs, and previously served as the Managing Director of General Catalyst Partners and Principal at Benchmark Capital,
“Jonathan Teo has had a central role in popularizing nearly every major consumer technology platform you can think of during the last 10 years,” said Vezt CEO Steve Stewart. “We are eager to leverage his expertise in growth strategy and how we can best refine our model going forward.”
About Vezt Inc.
Vezt lets music fans share ownership with artists in their favorite songs. Founded in 2016, the company is headquartered in Los Angeles, California and has received funding from Binary Capital and principals of Global Trust Group. See vezt.co for more information.
Contact
Director of Communications Michael E. Rubin. michael@vezt.co. +1–847–370–3421
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