Jack Dorsey’s Sq., Inc. is shopping for a majority stake in Jay-Z’s streaming service Tidal

Photograph by Amelia Holowaty Krales / The Verge

Sq., Inc., the monetary companies firm based by Twitter CEO Jack Dorsey, is buying a majority stake in Tidal, the high-fidelity audio and video streaming service led by Jay-Z. Sq. is paying $297 million in money and inventory for a “vital majority possession stake” and says Tidal will function independently alongside Sq.’s different ventures.

Asking the plain query in a thread on Twitter, Dorsey mentioned: “Why would a music streaming firm and a monetary companies firm be a part of forces?!” His reply: to search out “new methods for artists to help their work.” Simply as Sq. gave sellers new instruments to make cash, Dorsey says the corporate’s stake in Tidal will assist artists discover related help within the new digital ecosystem.

Proceed studying…

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *