Back in 2017, Kevin King was looking to retire from ABS Payroll, the company he founded in 1985 to service independent productions, and hand the business off to his son Kris. He invited BondIt Medi…
Back in 2017, Kevin King was looking to retire from ABS Payroll, the company he founded in 1985 to service independent productions, and hand the business off to his son Kris. He invitedCapital co-founders Matthew Helderman and Luke Taylor to lunch. Their production company Buffalo8 had been an ABS client, and when the duo launched BondIt in 2013, the King family participated in its first round of financing. Now, King was offering BondIt the opportunity to return the favor and invest in ABS.
BondIt subsequently acquired a 49% stake in ABS in 2018, providing Kris King with a secure perch from which to run the company, as well as a cash infusion that enabled the company to step up its game. ABS also expanded its services, launching a residual payroll platform in partnership with rights management company Freeway Entertainment and its proprietary digital onboarding and timecard technology.
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