Soulja Boy Got 400 Million Deal
UPDATE (5/23/16, 11:30 a.m. ET): It now seems that the deal that seemed too unbelievable to be true indeed was. Matthew Bird, the publicist for World Poker Fund Holdings, who was quoted in the initial release confirming the deal, has attempted to clarify some of its terms. Speaking with Forbes , he said the deal includes stock and revenue-sharing options.
He really kind of jumped the gun, Bird said of Soulja's initial tweet. The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted. He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out. Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a fully cash transaction.
You can read the original story below.
Earlier this month, when Soulja Boy tweeted that he had signed a $400 million deal, it seemed beyond unbelievable.
The deal is for five years with the WPFH, which describes itself as 'a leading developer and operator of online and event-based social gaming platforms and brands.'
It doesn't seem like this was a very tough decision for Soulja. I invest in things I understand,' he said. 'I enjoy music, and of course gaming. Being an influencer is a form of currency. Having portfolio diversification is critical if you want to be an effective brand ambassador. With regards to World Poker Fund, I believe in its strategy, its team, the vision, and management’s ability to target its financial goals.
The world of marketing is changing, today’s biggest influencers are not brands, but individuals who create content that drive loyalty and brand sentiment,' Matthew Bird, WPFH's publicist said. 'We no longer are fed content from major news networks — we seek it out and consume it by individual influencers that enrich our lifestyles. Soulja Boy represents the best of the best and we are already seeing the impact from his presence.