Jay-Z Invests $110 Million In Smart-Home Company

Jay-Z is regarded as one of the most legendary rappers in the Hip-Hop world. On top of his musical prowess, Hov is also a smart businessman and is worth over a billion dollars for good reason. He also realizes that people love to gamble.

Jay-Z was among the names linked to a takeover of the NFL’s Denver Broncos in a lucrative $4 billion. This would have made Jay-Z the first-ever black owner of an NFL team.

Unfortunately, that ultimately did not happen as it was said that Jay-Z had no interest in investing so much money into the Denver Broncos in the first place.

According to HipHopDx, the music mogul has invested $110 million into the smart-home device maker, Wyze Labs through his firm Marcy Venture Partners, which he co-founded with Larry Marcus, and Jay Brown. It was said that the company specializes in products such as digital thermostats, security cameras, and vacuum robots.

Thanks to Jay-Z’s funding, Wyze Labs’ total funding rose to $146 million. It was founded in 2017 by Amazon veterans and now has over 300 employees.

”We are doubling down and investing heavily to build world-class artificial intelligence into our camera products. Just in the last year, our AI team has built person detection, vehicle detection, package detection and pet detection into our cameras. “Right now we have AI features in the works that we truly think will be game-changing for any camera, let alone one that costs less than $36.”

Jay-Z will continue to make smart business decisions that will ultimately help him in the long run and his funding to Wyze Labs is simply just the beginning.

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