Tommy Mottola invests in Every Baby
Music mogul Tommy Mottola has a new business adviser – his 14-month-old daughter Sabrina.
The former Sony Music boss and wife, Mexican pop star Thalía, welcomed their little girl last October (07), and she's already showing business savvy.
Mottola acquired a majority stake in an infant education and entertainment company called Every Baby – after watching his little Sabrina's reaction to one of its videos.
Mottola tells the New York Post, "She was jumping up and down and mimicking the video, and she never did that before with anything else we showed her. As soon as I saw that, I called (the owners) and asked for a meeting."
Company president Stephen Gass adds of the venture, "We were looking for additional cash, as well as brainpower, to take us from a boutique brand to a mass-market household-entertainment franchise."
A source tells the newspaper Mottola invested $2 million (GBP1.3 million) in the project and plans to raise an additional $25 million (GBP16.7 million), giving him a 50 per cent stake in the company.