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Jack Dorsey’s Square Buying Jay-Z Music Platform Tidal For $297 Million

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deadline.com
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Jack Dorsey’s other company – Square – announced Thursday it’s buying a majority stake in Jay-Z’s streaming music platform Tidal for $297 million in cash and stock.Shawn “Jay-Z” Carter will join the board of directors of publicly-traded Square, a financial services and payments company.

Square said it’s taking a “significant ownership stake” in Tidal and that existing artist shareholders will own the rest. Tidal will operate independently within Square.Square said the acquisition extends its “purpose of economic empowerment” to a new vertical — musicians.

Square offers financial tools to help launch and grow small businesses and individuals manage money.“It comes down to one simple idea: finding new ways for artists to support their work,”

Read more on deadline.com
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