Monster Sells ‘Co-Ownership’ Stake to Recording Artist Swizz Beatz
Monster has sold a "co-ownership" stake to Swizz Beatz, a recording artist, record producer, DJ, and fashion designer. Beatz is now a board member and equity investor in Monster.
Beatz, whose real name is Kasseem David Dean, has become an equity investor in Monster and is now a board member of the privately held San Francisco maker of headphones, cables and other audio gear.
Monster, which created the Beats by Dr. Dre headphone sound, ended its relationship with Beats Electronics at the end of 2012, according to Bloomberg. Beats, which Bloomberg says made up 50 percent of Monster’s revenue, started to design, manufacture and distribute its own products.
“The products that we have planned are revolutionary in technology, sound, and style,” says Head Monster Noel Lee. “We need the talents and reach of Swizz to help bring these products to life in the eyes of the consumer.”
Adds Lee, “Swizz will advise us on our creative direction, product design and our marketing. We’ll be looking to him to tell us what’s next. He’s the real deal. He doesn’t get involved in something unless he believes in it.”
“Monster has always been a go-to name for music electronics as well as a big part of music culture. Under the leadership of Noel Lee, who is a true genius, the company has literally been changing the way people listen to music for over 30 years,” Beatz says. “They built an empire, and my job will be to push the envelope – turn the lights of the castle up really bright and help Monster take its next big step forward. There will be some very exciting things happening in the year ahead, so stay tuned!”
Steve Crowe has been writing about technology since 2008. He lives in Belchertown, MA with his wife and daughter. Have a suggestion or a topic you want read more about? Email Steve at [email protected]
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