Jay Z sells majority of Tidal to Jack Dorsey’s tech company Square for $297 million. Jay Z bought the company in 2015 for $56 millionJay-Z tweets for the first time in over two years, sells majority of Tidal
Square, the mobile payments company led by Jack Dorsey, has announced its plan to acquire a majority of Tidal, the streaming music service owned by Jay-Z and other artists, in a $297 million deal.
Square Inc. says it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z. Square will pay $297 million in cash and stock for Tidal and Jay-Z will be named to Square’s board of directors.
TIDAL board member and shareholder Shawn ‘JAY-Z’ Carter is expected to join Square’s Board of Directors subject to the closing of the transaction… In addition to JAY-Z, all of TIDAL’s artist shareholders will continue to be co-owners of TIDAL after the deal closes.”
I said from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.
— Mr. Carter (@sc) March 4, 2021
Our mission to empower artists continues.https://t.co/klNuWwvHiQ pic.twitter.com/QN90di6zWD
— TIDAL (@TIDAL) March 4, 2021
This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!
— Mr. Carter (@sc) March 4, 2021
