#Square tidal deal full
#Square tidal deal series

This shared vision makes me even more excited to join the Square board. Jack and I have had many discussions about Tidal’s endless possibilities that have made me even more inspired about its future. Square (SQ), the payments company founded and run by Twitter CEO Jack Dorsey, announced Thursday it has agreed to acquire a majority stake in Jay-Z’s Tidal platform. Of the acquisition, he said: “Artists deserve better tools to assist them in their creative journey. Jay-Z joins Square’s board as part of the deal. The new interim head of TIDAL, Jesse Dorogusker, said streaming will continue to be part of the service, alongside new tools for artists. 05 MARCH, 2021 IN PARTNERSHIP WITH Good morning Why would a music streaming company and a financial services company join forces Answer: To find new ways for artists to support their work. BNPL was the least important part of the deal.

Square’s own fintech background implies systems that have been brought to the forefront by recent high-value NFT auctions could be brought to music and artist tools sooner rather than later. Payments fintech Square announced its intention to acquire Buy Now, Pay Later (BNPL) firm Afterpay for 29 billion.

#Square tidal deal full

The vision only grows stronger as it’s matched with more powerful tools for artists, inclusive of new ways of getting paid.” You can read the full Twitter feed here.ĭorsey’s comments echo the recent focus on artists’ rights, independence and incorporating new ways for artists to connect with fans and generate revenue. “TIDAL started with the idea of honouring artists by being artist-owned and led, focused on an uncompromised experience of the art. This deal made Jay-Z a board member of Block Inc and left many wondering whether Dorsey had been finessed into buying the relatively small streaming service at a premium price. “Given what Square has been able to do for sellers of all sizes and individuals through Cash App, we believe we can now work for artists to see the same success for them, and us,” Dorsey tweeted. In 2021, Jack Dorsey’s company, Block Inc (formerly known as Square), agreed to acquire Tidal for 306 million. The fintech company said it’s paying 297 million for a. Dorsey’s Twitter thread announcing the deal (of course) is vague about what Square intends to do with.

#Square tidal deal series

Those artists are now the “second-largest group of shareholders”, Dorsey explained in a series of tweets. Square (NYSE: SQ), the largest holding in the ARK Fintech Innovation ETF (NYSEARCA: ARKF), made waves last week with a new investment. Square is paying 297 million in cash and stock for a significant majority of Tidal. TiDAL was founded in Norway in 2014 before being acquired by Jay-Z and other artists including Beyoncé and Rihanna in 2015. Square Inc – the financial services company founded by Twitter CEO Jack Dorsey – has bought a majority share in Jay-Z’s TiDAL for $297m. Payments firm Square Inc (SQ.