"He's Crazy. He's Like, 'You're The Next Tupac!'"

With the Internet still buzzing over hip-hop newcomer Iggy Azalea inking an Interscope Records deal this week, the Australian emcee has come forward to dish out more details on her situation.

Although Def Jam seemed promising, Iggy said after careful longterm consideration and some words with Interscope CEO Jimmy Iovine, her decision was a no-brainer.

"I think they [labels] have things that they specialize in. Def Jam, I love. I was super close to signing with them. I think they're just the best team. I think they're really passionate about what they do and you can just tell that they're so hungry over there. But then you look at who they've got signed to their label and it kind of makes you be like, 'I don't know. Am I going to be the guinea pig here for this?' I don't know. ... I think once Jimmy [Iovine] saw that I was starting to pull away and be like, 'No, I'll just do my own thing,' he was like, 'What do you want lady?' And I was like, 'Alright, let's cut the bullsh*t.' ... He's crazy. He's like, 'You're the next Tupac!' I'm like you're absolutely insane. But I love it!" (Billboard)

She broke the news of her new label situation Friday (January 27).

"Interscope, if you were wondering.," she tweeted January 27th.

"Get used to me + jimmy smashing sh*t, cause thats the plan. ^.^"

"Album in june entitled 'f*ck your life' nah.... not realllyyyy its called 'The New Classic'" (Iggy Azalea's Twitter)

Speculation on the rapper's potential Def Jam deal hit the Internet around mid-January.

Iggy Azalea has been buzzing since she released her Ignorant Art mixtape, and its accompanying videos, and now it looks like the 21-year-old, Australia-born rapper might be close to inking a new deal with Def Jam. Iggy met with the Def Jam team, including Rihanna, in Los Angeles this week and all parties seemed to be pleased with the results. (RapFix)

A Def Jam music executive also hinted at something stirring up between the label and Iggy.

When we first heard of Iggy Azalea, we had the suspicion that she'd blow up quickly. Since then, it has become increasingly clear that the Australian born rapper has too much flare to remain unsigned for long. It looks like the doors are opening up and Iggy is feeling out her options. A tweet from the Bu Thiam, music executive at Def Jam, confirms that Iggy has been in talks with the legendary label. "Just spoke to the homie @IGGYAZALEA and all ima say is #History" (Complex)