Will Smith makes power moves. Jay-Z makes power moves. Now, the businessmen are doing it together, again.
According to AllHipHop.com, the pair are among a group of investors who are backing new video sharing application, Viddy.
The new app, similar to the photo sharing app Instagram, is exclusively for iPhone and allows users to create small videos to share with friends. Viddy has more than 10 million registered users and reportedly brings in 300,000 new members a day.
Brett O’Brien, founder of Viddy, told the New York Times that the deal includes Smith’s Overbrook Entertainment, Jay-Z’s Rock Nation artist Shakira and Twitter founder Biz Stone as new investors. O’Brien hopes the star power will boost the popularity of the application.
“Shakira has 40 million fans on Facebook and she is huge in Latin America,” he said. “I’m pretty sure this will help us get bigger in Latin America.”
This isn’t the first time the entertainment moguls have worked together; Will, Jay-Z and Jada Pinkett Smith signed on to produce the Broadway musical Fela! in 2009.