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Ozy Media
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Ozy Media
Ozy Media (styled as OZY) was an American media and entertainment company launched in September 2013 by Carlos Watson and Samir Rao. It was headquartered in Mountain View, California, with an additional office in New York City.
On September 27, 2021, The New York Times reported a series of scandals at Ozy involving fraud and executive misbehavior. On October 1, after significant negative media attention, Ozy's board of directors announced that the company would cease operations. On October 4, Watson announced that the company would remain in operation with a significantly reduced board of directors.
The Department of Justice and the Securities and Exchange Commission opened investigations into the company. In February 2023 three executives, including both founders, were charged with fraud. Ozy ceased operations, and its website went offline, on March 1, 2023.
On July 16, 2024, Ozy Media and co-founder Watson were convicted of fraud at trial. Co-founder and COO Rao and chief of staff Suzee Han had pleaded guilty and cooperated with the prosecution. On December 16, 2024, Watson was sentenced to 116 months in prison.
In March 2025, President Trump commuted the prison sentence of Carlos Watson.
Ozy was launched as a digital magazine and daily newsletter in September 2013. The company raised a $5.3 million seed round of funding in December 2013 backed by Laurene Powell Jobs, founder of Emerson Collective. Additional early investors included Louise Rogers and Ron Conway. Powell Jobs became a board member.
In October 2014, Ozy announced that German media giant Axel Springer had invested $20 million in the company. In January 2017, Ozy announced a $10 million Series B round of fundraising, led by Michael Moe's GSV Capital. In November 2019 Ozy announced a Series C round of $35 million, led by businessman Marc Lasry. Ozy also received funding from the Ford Foundation.
In January 2021, Watson said that the company had reached profitability for the first time. He stated that Ozy brought in $50 million in revenue in 2020. Several major news outlets questioned the legitimacy of these claims, and investors subsequently sued, alleging fraud and concealment. The company also said that it had received acquisition offers from unnamed media companies.
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Ozy Media
Ozy Media (styled as OZY) was an American media and entertainment company launched in September 2013 by Carlos Watson and Samir Rao. It was headquartered in Mountain View, California, with an additional office in New York City.
On September 27, 2021, The New York Times reported a series of scandals at Ozy involving fraud and executive misbehavior. On October 1, after significant negative media attention, Ozy's board of directors announced that the company would cease operations. On October 4, Watson announced that the company would remain in operation with a significantly reduced board of directors.
The Department of Justice and the Securities and Exchange Commission opened investigations into the company. In February 2023 three executives, including both founders, were charged with fraud. Ozy ceased operations, and its website went offline, on March 1, 2023.
On July 16, 2024, Ozy Media and co-founder Watson were convicted of fraud at trial. Co-founder and COO Rao and chief of staff Suzee Han had pleaded guilty and cooperated with the prosecution. On December 16, 2024, Watson was sentenced to 116 months in prison.
In March 2025, President Trump commuted the prison sentence of Carlos Watson.
Ozy was launched as a digital magazine and daily newsletter in September 2013. The company raised a $5.3 million seed round of funding in December 2013 backed by Laurene Powell Jobs, founder of Emerson Collective. Additional early investors included Louise Rogers and Ron Conway. Powell Jobs became a board member.
In October 2014, Ozy announced that German media giant Axel Springer had invested $20 million in the company. In January 2017, Ozy announced a $10 million Series B round of fundraising, led by Michael Moe's GSV Capital. In November 2019 Ozy announced a Series C round of $35 million, led by businessman Marc Lasry. Ozy also received funding from the Ford Foundation.
In January 2021, Watson said that the company had reached profitability for the first time. He stated that Ozy brought in $50 million in revenue in 2020. Several major news outlets questioned the legitimacy of these claims, and investors subsequently sued, alleging fraud and concealment. The company also said that it had received acquisition offers from unnamed media companies.
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