![]() ![]() Jay-Z said in the statement that the “partnership will be a game-changer for many. Dorsey is the CEO of Square, which will pay 297 million in cash and stock for majority ownership of Tidal, and Jay-Z will join Square’s board of directors. In other words, maybe Jay-Z didn’t succeed in making Tidal into a dominant new streaming-music player, but with this deal, you certainly can’t call the enterprise a failure: It’s just been co-signed by one of the most successful entrepreneurs alive, and plugged into a 100 billion fintech giant that now has a board seat with Jay-Z’s. “It comes down to one simple idea: finding new ways for artists to support their work,” Dorsey said in the statement announcing the deal. Tidal has presented itself as the artist-friendly alternative to other music streamers, and Square says it will take that phenomenon further for musicians, just as it has for businesses with its financial systems. SpaceX: Starship lands upright, then explodes in latest test Messaging: WhatsApp introduces one-on-one voice calling for desktop app Tidal will operate as a distinct entity alongside the point-of-sale hardware and software offerings of San Francisco-based Square, the payments company founded by CEO Jack Dorsey, who is also co-founder and chief executive of Twitter. And Square said Tidal’s revenue, which it. Under the deal, Square will pay $297 million in cash and stock for Tidal Jay-Z will be named to Square's board of directors and he and other artists who currently own shares in Tidal will remain stakeholders. Square CEO Jack Dorsey and Jay-Z made a deal for Square to acquire a majority stake in Tidal for almost 300 million. Dorsey said as part of a series of tweets: 'Im grateful for Jays. ![]() As part of the deal JAY-Z will join the board of Square. ![]() said Thursday that it has reached an agreement to acquire majority ownership of Tidal, the music-streaming service partly owned by Jay-Z. Square, the payments company founded and run by Twitter CEO Jack Dorsey, announced it has agreed to acquire a majority stake in Jay-Z’s music streaming service, Tidal. Digital payments firm Square said Thursday it was buying a controlling stake in the streaming music platform Tidal from a group led by rap star JAY-Z for 297 million (roughly Rs. Koning expects gross profit to advance by an annual 15%-25% over the next three to five years, "with some margin expansion/use of cash benefit driving EPS growth of 30-50%." ( See Square stock analysis on TipRanks).SAN FRANCISCO – Financial technology company Square Inc. Looking for Latest articles on Jay-z Telegraph India brings you an extensive choice of Jay-z stories. Baird analyst David Koning this week recommended investors remain "patient" as he views the stock as "a strong and defensible franchise with great secular growth themes in payment." ![]() With SQ shares up a stellar 267% year-to-date, Robert W. Jack Dorseys Square to pay 297 million for majority stake in Jay-Zs music platform Tidal with rap mogul to join board of the financial company with power over Seller and Cash App. After sitting more than four years on the board of Walt Disney Co., Dorsey is looking into building a similar model for Square, whereby it would own a collection of businesses under one corporate umbrella, Bloomberg reported. Square said it would pay for Tidal in a mix of. F Financial services company Square completed its acquisition of a majority ownership stake in Tidal, the streaming service owned by Jay-Z and a consortium of artists, on Friday (April 30), a. The service is available in 53 countries and offers more than 60 million songs and 250,000 videos.ĭorsey, meanwhile, has a vision to turn the digital-payment company into a much broader company made up of stand-alone, complementary services. Mobile payments company Square has agreed to acquire a majority stake in Tidal, the struggling streaming platform owned by Jay-Z, for 297m. The closely held service hasn’t reported subscriber figures since saying it had 3 million paying customers in 2016, according to Bloomberg.Īmong Tidal owners are high-profile artists, including Beyoncé, Alicia Keys, Coldplay, Madonna, Rihanna and others, according to its website. Jay-Z’s own music has been the point of attention for the platform, but he put his songs back on Spotify last year - raising questions about the health of Tidal. Jack Dorsey’s Square Buys Majority Stake in JAY-Z’s TIDAL Square expects to pay a mix of cash and stock of 297 million USD. Tidal, which first launched in 2014, has been grappling with fierce competition from established streaming services, including Spotify Technology SA and Apple Music. ![]()
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