Financial technology company Square, Inc. said Thursday that it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.
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.
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.
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.
“It comes down to one simple idea: finding new ways for artists to support their work,” Dorsey said in the statement announcing the deal.
Jay-Z said in the statement that the “partnership will be a game-changer for many.” I look forward to all this new chapter has to offer!"
Payoneer CEO John Caplan discusses the implications of $100K H1B visa requirements—and how they could reshape tech talent, hiring, and U.S. competitiveness.
Lukas Alpert of MarketWatch explores how networks, brands, and ad buyers absorb the shockwaves when late‑night show hosts are suddenly cut — and brought back.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
