Jay-Z Sells Tidal To Twitter CEO Jack Dorsey
Provided By - Video Elephant on March 05, 2021
Jay-Z has sold his streaming service Tidal to Square, a financial services company co-founded by Twitter CEO Jack Dorsey.
Square purchased Tidal for $297 million. It will operate independently alongside Square’s other ventures.
Dorsey revealed that Square bought Tidal to find “new ways for artists to support their work”.
Square and TIDAL will continue to empower artists and create a more sustainable, collaborative, and beneficial music industry, Tidal said in a statement about the deal.
Jay-Z has called the deal “a game-changer” and said that Dorsey is “one of the greatest minds of our times”.
The rapper revealed that he and Dorsey have a “shared vision” for Tidal and that he is excited to join Square’s board.
Tidal was founded in Norway in 2014. In 2015, Jay-z, Rihanna, Kanye West and Beyoncé bought shares in the company.