Tommy Mottola Loves 'Every Baby'
November 21, 2008 at 5:32 AM (PT)
TOMMY MOTTOLA's 14-month-old daughter is giving him investment advice, writes PETER LAURIA in TODAY's NEW YORK POST. The ex-head of SONY MUSIC said he inked a deal to acquire a majority stake in infant education and entertainment company EVERY BABY after watching his little girl's reaction to one of its videos.
"She was jumping up and down and mimicking the video, and she never did that before with anything else we showed her," MOTTOLA told THE POST. "As soon as I saw that, I called [the owners of EVERY BABY] and asked for a meeting."
Neither party would comment on the deal's terms, but a person familiar with the deal said MOTTOLA invested $2 million and plans to raise an additional $25 million for a 50% stake.