Last month, Dorsey said the pair endowed a bitcoin trust to support the digital coin's development in Africa and India. Jay-Z and Dorsey have also partnered in the past. Creators economy is the new hit in Fintech: all the main VCs are jumping on this vagon, new startups are raising millions trying to build for this underserved market, Square just bought Tidal and thus a creator base of millions of users and, impossible to forget, Non-Fungible Tokens NFTs are everywhere right. Digital Music News first reported on Jay-Z and Jack Dorsey’s meeting last summer.
Tidal has struggled to keep up in the music streaming wars since its launch, and Dorsey's stake could help push the company forward. Square will pay 297 million in stock and cash for their majority stake in Tidal. 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. Square said it doesn't expect Tidal's financial results to have a material impact on Square's consolidated revenue or gross profit in 2021. Most recently, the company officially launched its banking operations. The move is an effort to diversify Square, which is well known for its credit card processor, payment hardware and Cash App. While the jury is out on that, it is clear that having Jay-Z and the other celebrities on Tidal as brand ambassadors for Square could provide a big boost from a promotional perspective. (Reuters) - Payments firm Square Inc agreed on Thursday to buy a majority stake in rapper Jay-Z's Tidal music streaming service for 297 million in a deal that could popularize blockchain or. Jay-Z, who bought Tidal in 2015 for $56 million, will join Square's board of directors.ĭorsey said Jay-Z will also "help lead our entire company, including Seller and the Cash App, as soon as the deal closes." The question is if Square would be able to create enough demand for NFTs to become mainstream, which would make the deal with Tidal more palpable to some. Mobile payments company Square announced Thursday that it has finalized a deal to purchase a majority stake of Tidal, the music streaming service run by billionaire rapper Shawn Jay-Z Carter. Existing artist shareholders will be the remaining stakeholders, Square said. Tidal (stylized in all caps) is a Norwegian-American music streaming service, launched in 2014 by Swedish public company Aspiro.Tidal is now majority-owned by Block, Inc., an American payment processing company. The deal is expected to be a mix of cash and stock of $297 million and is expected to close in the second quarter of 2021. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 kommentar(er)
