Former CEO of Disney Bob Iger to Join Board, Invest in Avatar Company

Board seat, personal investing at startup… Odd move for man remembered as stellar CEO
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Bob Iger, former CEO of Disney from 2005 to early 2020, has announced his whiplash-inducing next move. He’ll join the board of a Los Angeles-based tech company, reports the Wall Street Journal.

More info? It’s Genies, Inc., a 3D avatar-creating start-up operating on a mobile app run by a 29-year-old. Iger will also be investing his own money in the company, according to a Genies press release.

Genies, Inn. plans to make money selling not only avatars but digital goods like fashion and goods that people can parade around in in the oncoming metaverse. They also plan on providing “avatar worlds and avatar experiences,” according to the release.

“Imagine, you know, letting someone buy a Mickey Mouse avatar and customizing it in a way that not only would we never allow it before, but it was kind of hard to do in the physical world,” Iger told the Wall Street Journal.

Indeed!

It’s an odd move, writes David Lazarus, who covers business and consumer news for KTLA. Iger’s time at Disney is remembered as forward-thinking as well as for big deals like acquisitions of Pixar, Marvel and Star Wars.

Still, “If Iger thinks the future is in goofy online encounters, who am I to say otherwise?” Lazarus writes.


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