Photo Credit: Coco Curranski / CC by 2.0
Russell Simmons fled to Indonesia after multiple sexual assault allegations. Now the Def Jam co-founder’s All Def Digital brand is reportedly closing down.
The crash the Russell Simmons empire seems to be nearing completion.
According to multiple sources to TubeFilter, Simmons’ All Def Digital is shuttering, and layfs have started en-masse. Executives from a business advisory firm have reportedly been spotted in ADD’s Los Angeles fices to divvy up assets. Those assets include ADD’s digital properties.
Simmons parent company Rush Communications has not shared any information about the closure. The Phat Farm founder was , starting in 2017. Simmons stated he was stepping away from ADD to run his other ventures in November that year.
The Def Jam co-founder has denied the allegations sexual assault, saying he has never been abusive or violent toward a woman. Simmons says his decision to step down from was to avoid being a distraction.
Before Simmons stepped down, ADD CEO Sanjay Sharma departed to start a new digital media venture. Osman Eralp assumed the day-to-day duties the brand.
The ADD YouTube channel is still live but has not posted any new content in a week. It has over 4.1 million subscribers. The ADD Facebook and Instagram pages are still available, although its Twitter presence is suspended. The company launched its YouTube channel back in 2013 and has developed content for Spotify, HBO, Facebook, and more. The company also launched a branded content studio called ADHD in April 2016.
ADD received more than $5 million in Series A funding, led by Greycrt Partners. Third Wave Digital raised another $10 million in venture capital in June 2016, for a total $15 million raised.
Simmons stepped away from most his companies after the NYPD announced an investigation into . More than a dozen women have stepped forward accusing the former rap mogul raping them. Despite liquidating all assets in the United States, Simmons denies the allegations against him.