![]() ![]() Last week, the digital payments specialist announced it is acquiring a majority ownership stake in TIDAL. From there, the company has grown into a billion-dollar industry now with the collaboration of Tidal, Square is only going to do better, and bigger, things. Square (SQ) is eying up opportunity in the struggling music biz. Square was started as a way to give aspiring business owners an easier way to take credit cards. Square buys Tidal for 297 million, Jay-Z joins board Maat 11:38 AM Yahoo Finance’s Julie Hyman, Myles Udland, and Brian Sozzi discuss news of Square’s acquisition of Jay-Z’s Tidal. Square SQ -1.7 is looking to diversify its portfolio by taking advantage of. The new partnership is aiming to translate the success of. Jay Z may have 99 Problems but Tidal is no longer one of them thanks to Square’s 297 million acquisition. The big mantra of the company is helping every size of any business succeed. Now it’s surfaced that the fintech company is slated to buy a majority stake in the niche music streaming service for 297 million. Square is a popular service that allows users to buy, sell, and send money using any Apple or Android device. Square Inc (NYSE: SQ), the payments giant, announced today its acquisition of a majority interest in TIDAL, the audio and video streaming platform led by Jay-Z, for 297 million in cash and stock. RELATED: Jay-Z Adds Champagne To His Million-Dollar Businesses With New Partnership It has also been reported that earlier this week, the Brooklyn native bought back the shares from T-Mobile which will most likely be sold to Square as apart of the deal. In 2017, Jay-Z sold 33 percent of the company to Sprint at an undisclosed amount, as reported by the New York Times. CEO Jack Dorsey, who is also the co-founder of Twitter, is excited for the opportunity to further the expansion of Tidal. “It comes down to one simple idea: finding new ways for artists to support their work,” Dorsey stated in his interview upon announcing the deal. The streaming service gives members access to music, music videos, and other content. Tidal was bought from Jay-Z in 2015 for $56 million with partnerships from other artists, which include Beyoncé and Rihanna. Yahoo Finance’s Julie Hyman, Myles Udland, and Brian Sozzi discuss news of Square’s acquisition of Jay-Z’s Tidal.Subscribe to Yahoo Finance. Square Inc (NYSE: SQ), the payments giant, announced today its acquisition of a majority interest in TIDAL, the audio and video streaming platform led by Jay-Z, for 297 million in cash and stock. ![]()
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