"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. This deal made Jay-Z a board member of Block Inc and left many wondering whether Dorsey had been finessed into buying the relatively small streaming service at a premium price. The business mogul shared the following tweet on March 4 about the Square Inc. In 2021, Jack Dorsey’s company, Block Inc (formerly known as Square), agreed to acquire Tidal for 306 million. Alongside these details, it was also announced that Jay would sit on the board of directors after the deal goes through. JAY-Z and Roc Nation CEO, Desiree Perez will stay on and help run TIDAL.īloomberg previously noted that the deal would consist of Square Inc. All artists/owners will reportedly stay with the company.
will receive 80% ownership of TIDAL, additionally, the tech company is set to acquire licensing deals with major record labels. The digital platform initially launched in 2015 for $56 million in partnership with other artists including Beyonce, Alicia Keys, Kanye West and more who are part shareholders. But, per TMZ, JAY-Z closed the deal on Friday. owned by Jack Dorsey, co-founder and chief executive of Twitter. JAY-Z has reportedly closed the deal to sell the majority of his streaming company TIDAL for $350 million to Square Inc.īack in March, he shared a few tweets about the sale of TIDAL to Square Inc. will receive 80% ownership of JAY-Z's TIDAL, additionally, the tech company is set to acquire licensing deals with major record labels.
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