![]() This partnership will be a game-changer for many. This shared vision makes me even more excited to join the Square board. In 2017, Jay-Z sold 33 of Tidal to Sprint in a deal that valued Tidal at 600 million. Jack and I have had many discussions about Tidal’s endless possibilities that have made me even more inspired about its future. Square, the payments-processing company led by CEO Jack Dorsey, announced plans to buy a significant majority stake in Tidal, the music and entertainment streaming platform run by Jay-Z. But those big competitors have mostly edged it out. Of the acquisition, he said: “Artists deserve better tools to assist them in their creative journey. Jay-Z joins Square’s board as part of the deal. Jack Dorsey’s other company Square announced Thursday it’s buying a majority stake in Jay-Z’s streaming music platform Tidal for 297 million in cash and stock. The new interim head of TIDAL, Jesse Dorogusker, said streaming will continue to be part of the service, alongside new tools for artists. Square’s own fintech background implies systems that have been brought to the forefront by recent high-value NFT auctions could be brought to music and artist tools sooner rather than later. ![]() The vision only grows stronger as it’s matched with more powerful tools for artists, inclusive of new ways of getting paid.” You can read the full Twitter feed here.ĭorsey’s comments echo the recent focus on artists’ rights, independence and incorporating new ways for artists to connect with fans and generate revenue. “TIDAL started with the idea of honouring artists by being artist-owned and led, focused on an uncompromised experience of the art. ![]() “Given what Square has been able to do for sellers of all sizes and individuals through Cash App, we believe we can now work for artists to see the same success for them, and us,” Dorsey tweeted. the former Square Inc.challenging the payment processor’s 237 million deal for a majority stake in Tidal, the failed streaming service backed by music mogul Jay-Z. Those artists are now the “second-largest group of shareholders”, Dorsey explained in a series of tweets. A pension fund filed suit in Delaware against Jack Dorsey and several other board members at Block Inc. Dorsey and Jay Z have reportedly discussed a possible sale, but. ![]() TiDAL was founded in Norway in 2014 before being acquired by Jay-Z and other artists including Beyoncé and Rihanna in 2015. Square Inc., the mobile payment app led by Twitter founder Jack Dorsey, might end up acquiring TIDAL, according to Bloomberg. Square Inc – the financial services company founded by Twitter CEO Jack Dorsey – has bought a majority share in Jay-Z’s TiDAL for $297m. ![]()
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