Sean Parker, who is famous for founding Napster and helping build up Facebook, has discovered a new business project to be a part of. He has made a sizable investment in Peter Jackson’s Weta Digital in Wellington, New Zealand. Parker is a minority equity investor in the company, which is headed by Senior Visual Effects Supervisor Joe Letteri.
Weta Digital has served on many big-budget movie projects over the years including Avengers: Endgame, The Lord of the Rings, Avatar, Planet of the Apes and The Hobbit trilogies. The company will “use the funds and his influence to continue to build the enterprise into the future.”
According to Deadline, “Parker and Peter Jackson got to know each other through Screening Room, the venture capital play that aspires to bring first-run films through a secure set-top box into the homes of 25-45 people who have the financial means to afford to pay premium prices to watch new films, but have disconnected from moviegoing because they are raising kids or are otherwise distracted.”
Parker had this to say in a statement:
“I’ve long admired Peter Jackson’s and Fran Walsh’s work, and the ground-breaking VFX and animation that Weta Digital has created over the last two decades. The visionary leadership, imagination, and technical expertise of Weta Digital was vital to the creation of Academy Award winning films such as Avatar, King Kong, and Lord of the Rings. I look forward to helping grow Weta Digital and I’m excited to partner with Peter, the leadership of Weta, and its incredibly talented team.”
“Sean Parker brings an invaluable expertise that will fortify Weta Digital from a technological perspective, while also focusing on its growth as an industry leader. As I have gotten to know him, I have been extremely impressed with his curiosity, intelligence and passion.”