Former Disney CEO Joins Metaverse Startup Board of Directors
[Asia Economy Reporter Jeong Hyunjin] Bob Iger, former CEO of Disney, has invested in the metaverse startup Genies and joined its board of directors, the Wall Street Journal (WSJ) reported on the 14th (local time).
According to the report, Iger, who was responsible for Disney's management from 2005 until the end of last year, joined Genies' board for the first time since leaving Disney. He recently invested in five startups, including Genies.
Before investing in Genies, Iger met with representatives of over 20 startups and told WSJ, "I was particularly interested in companies using technology with a disruptive purpose, companies that can find the intersection between technology and creativity."
Founded in 2017, Genies possesses technology to create 3D avatars that operate in metaverse virtual spaces. It holds 99% of the market for avatar character production modeled after famous American celebrities and has partnerships with Universal and Warner Music, creating avatars of pop stars such as Justin Bieber and Rihanna.
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The company has raised $100 million (approximately 124 billion KRW) from venture investors, including former CEO Iger. The number of employees is around 100.
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