Jay-Z will join financial services firm Square led by Twitter CEO Jack Dorsey. The reason is, the famous rapper Jay-Z has sold the majority stake in his music streaming platform, Tidal to Dorsey.
Reporting from AceShowbiz, Friday (5/3/2021), Tidal’s shares were sold through an agreement worth around US $ 297 million. Dorsey hopes this will extend the goal of economic empowerment to musicians.
To note, Jay-Z bought the Swedish company Aspiro who created Tidal in 2015. He is supported by a line of musicians such as Beyonce, Alicia Keys, Rihanna, Nicki Minaj, Madonna, and Kanye West.
Jay-Z: Tidal Is More Than Streaming Music
“I said early on that Tidal was more than just streaming music, and six years later, it remains a platform that supports artists at every point in their lives. Artists deserve better tools to help. they’re on their creative journey, “said Jay-Z.
Jay-Z said that he and Dorsey had a lot of discussions about Tidal’s future which inspired him even more.
“I know Tidal is something special and that it will continue to be the best home for music, musicians and culture,” said Dorsey.
This is the latest business partnership between Jay-Z, whose real name is Shawn Carter, and Dorsey. They also recently collaborated to donate US $ 24 million to fund bitcoin development in African countries and India.
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