Jay-Z’s streaming platform Tidal in a $297million (£213million) deal.Dorsey, who is also the CEO of Square, has acquired a majority stake in the service in a bid to expand his mobile payment company’s tools to emerging and established artists.
Tidal will now operate independently within Square.Having launched Tidal in 2015, Jay-Z will join Square’s board of directors under the new deal.
Last month, Dorsey and the rapper launched a fund to “make bitcoin the internet’s currency”.Announcing the new venture on Twitter today (March 4), Dorsey explained why he decided to incorporate Tidal into his financial services company. “It comes down to a simple idea: finding new ways for artists to support their work,” he wrote.“New ideas are found at the.
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