Shortly after the Times' report about the impersonation, Ozy's board announced the company would shut down on Oct. 1, 2021. Additionally, Ozy's board hired a law firm to conduct a review of the startup's business practices and put Rao on leave. Watson later said Rao had been asked to step down.2 Nov 2021
Why did Ozy shut down?
The digital media company Ozy has shut down after being buffeted by accusations that it deceptively promoted both itself and its charismatic CEO and co-founder, Carlos Watson. "At Ozy, we have been blessed with a remarkable team of dedicated staff," the statement from the company's board of directors read.2 Oct 2021
What is the controversy with Ozy?
The controversy was triggered by a Times article that described how Ozy's operating chief, Samir Rao, impersonated a YouTube executive on a conference call with Goldman Sachs, which was considering investing $40 million in Ozy.10 Nov 2021
Why did Ozy Media Fail?
The digital media company Ozy has shut down after being buffeted by accusations that it deceptively promoted both itself and its charismatic CEO and co-founder, Carlos Watson.2 Oct 2021
Is Ozy Media still in business?
Yet despite the promise of news, Watson's latest statements did not provide any new information about Ozy Media's future. Shortly after the Times' report about the impersonation, Ozy's board announced the company would shut down on Oct. 1, 2021.2 Nov 2021