With the purchase, the Senegalese-American rapper follows the footsteps of other musicians such as Dr. Dre and Jay-Z who have made their own names in the tech and business world apart from just being music producers. Dr. Dre and Jimmy Lovine sold Beats Electronics the maker of beats by Dre headphones to Apple for $3 billion in 2014. In January 2015 Jay Z bought Tidal for $56 million in cash and later sold a chunk of it to Sprint.
Akon’s entry into Musik Bi will see the firm solve some of its disputes with phone companies over their cut which CEO Moustapha Diop said was a hindrance to its growth and broaden into a music festival, television channel and a streaming service. Musik Bi aims to fight piracy on the continent and help artists increase their sales against illegal downloads.
Musik Bi launched in Senegal in February 2016 with a mission to promote African artists, pay them properly, and fight internet piracy which is something Akon, as a musician and producer is keen on fighting.