Viacom Acquires Nas-Invested Company PlutoTV For $340 Million
According to Business Wire, PlutoTV- which Nas' company Queensbridge Venture Partners invested in in 2014- has been acquired by media corporation Viacom for $340 million. According to Pluto TV's corporate website, some of the other investors and advisors for the company include Universal Music Group, U.S. Venture Partners, Third Wave Capital and more.
"Founded in 2013, Pluto TV streams more than 100 channels and thousands of hours of on-demand content spanning television and movies, sports, news, lifestyle, comedy, cartoons, gaming and trending digital series," reports Business Wire on the news. "The ad-supported, internet-based TV service features world-class programming sourced from over 130 partnerships with media networks, major film and television studios and a wide range of digital content producers."
Queensbridge Venture Partners has been killing the investment game, and this is far from his first success story. In summer 2018, PillPack, which is a door-to-door pharmacy service backed by the prolific MC's venture capital fund since 2014, was acquired by Amazon for $1 billion. In March 2018, Amazon acquired the smart-doorbell company Ring for $1 billion (Nas made $40 million in the deal). Even earlier in his investment journey, Nas placed investments in companies like Genius, Lyft and SeatGeek.