Revolt, the media company formerly led by Diddy, has now transitioned to new ownership. Sean Combs previously sold his stake in the company, with employees now becoming the largest shareholder group.
Diddy, in collaboration with Andy Schuon, established Revolt in 2013. as we previously shared, the mogul distanced himself from the company in November 2023 following a surge of sexual misconduct allegations against him. According to Variety, employees will be provided with a comprehensive breakdown of the process for their participation allowance within the company. The shares previously owned by the company’s former chairman, Sean “Diddy” Combs, has now been completely redeemed and retired.
CEO Detavio Samuels released a statement on Tuesday which read: “Today, we are most proud of the transformation that our teams will experience as they shift from being employees to owners of the business they are helping to build. Black culture is global culture, and Revolt’s superpower is being the home for creators that move culture globally, allowing us to build the most powerful storytelling engine for Black voices. We succeed because we have a dedicated team who has been committed to advancing our purpose, our community, and our culture every single day. Without question, they deserve participation in our growth – and I could not be more honored to continue on this journey with them, leveraging our collective strength, pushing boundaries, and achieving new heights together.”
Diddy’s motivation for starting Revolt was to create a space where artists could have more control over their own narratives and where their voices could be heard. He saw a gap in the market for a network that catered specifically to the urban music and culture scene, and he set out to fill that void with Revolt.
The network launched with a bang, featuring live performances, interviews, and original content that showcased the best of hip-hop and R&B. Diddy’s industry connections and reputation helped to attract top talent to the network, and Revolt quickly gained a following among music fans and industry insiders alike.
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