News: 50 Cent Puts His Money Up W/ New Investment: "I'm Prepared To Throw My Weight Behind It"
Wednesday, Oct 30, 2013 10:00AM
G-Unit head 50 Cent continues to prove he is much more than your average rap star by reportedly investing in live streaming application HangWith, Inc. this week.
While it is uncertain just how much Fif has in the company, reports claim he is now an official investor.
MEDL Mobile, makers of the live streaming app Hang W/ announced today that Curtis Jackson, otherwise known as 50 Cent, has invested an unspecified amount of money in Hang W/, and has agreed to use it as his exclusive live streaming video platform. He's been using the app for a while, as have other celebrities including Timbaland, Chief Keef, Terrell Owens, Tommy Chong, Jamie Kennedy and Coco Crisp. He's already created over 70 broadcasts since joining in the summer. He has used it to release previously unheard music, give sneak peeks at music videos and give fans a behind-the-scenes look at his life. He intends to use it for producing and releasing the first live-streamed music video. (WebPro News)
The G-Unit leader has released a statement to explain his motivation for standing behind the company.
"Live streaming mobile video is a completely new form of media," he said. "Hang w/ is poised to be the dominant player in this new media, and I'm prepared to throw my weight behind it to see that happen. Hang w/ fits seamlessly in to my overall business strategy. I see ways to use it to promote my headphones, apparel, energy shots, film and TV projects, my boxers, and even my philanthropic endeavors." (Statement)
According to reports, HangWith, Inc. has over 600,000 downloads to its name.
The "Hang w/" app connects people through live streaming video and simultaneous chat - allowing hundreds, thousands and eventually millions of users to "Hang with" their favorite people in real time. The app has already been downloaded more than 600,000 times and has generated more than 10,000,000 user sessions. Jackson joined the platform in August and has been using it to actively Hang w/ his fans, having created more than 70 broadcasts since signing up just last month. In his broadcasts, 50 Cent has released previously unheard music, given sneak peeks of music videos, and brought his fans behind the scenes of his fast paced life. The Grammy-winning artist's plans for using Hang w/ include producing and releasing the first live-streamed music video on Hang w/. (Wall Street Journal)
Fellow New York rap veteran Nas recently made an investment in a company called Proven, which helps people find employment.
Quick, what rhymes with "start-up?" Celebrity music artists, including rappers, have been finding new ways to invest their money, and Nas, born Nasir Jones, is no exception. After a six-figure investment in the lifestyle publication "Mass Appeal," the rapper has put money into a San Francisco company called Proven, which makes apps to help people apply to online job postings through their smartphones. Nas, who rose to fame with his smash 1994 album "Illmatic," participated in the company's $1-million seed funding round that was led by Andreessen Horowitz and closed this summer. (Los Angeles Times)