Timbaland Discard Headphones to Invest in Social Media Company

Now that the rush to make profits from headphones and speakers are dying down, artists are looking for the next lucrative investment. Timbaland is a making a bet that social media is a viable option by investing in HangWith, Inc.

"I've seen the power of social media and how a simple tweet or Instagram pic can bring awareness to an album," said Timbaland. "I think Hang With takes things to the next level. I believe the entertainment industry will line up behind this application and I intend to be at the head of the line."

The “Hang W/” app enables live, real time video to be sent from one phone to several phones.

Can it become the next Instagram? The app has already received over 100,000 downloads in the Apple App Store.