Square takes majority stake in Jay-Z’s Tidal for nearly $300m
It is not clear how Square will help Tidal build its business, but there is a lot of overlap between the music industry and Square’s existing market
04 March 2021 - 15:57
Square has agreed to buy a majority stake in Tidal, the streaming music service led by rapper Jay-Z, as part of an effort to expand the company’s suite of financial tools to musicians and emerging artists.
Square will pay $297m in a mix of cash and stock to become Tidal’s “significant majority” owner, though Jay-Z and Tidal’s other existing artist-shareholders will retain some ownership in the company. Tidal will operate independently within Square, according to a company release, and Jay-Z will join Square’s board of directors...
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