Go, Jay!ДЇor more Entertainment News check out the Leader in Hip Hop, Hip Hop News Uncensored. Now he proves it with every move he makes. вЂњIвЂ™m not a businessman вЂ¦ IвЂ™m a business, man!!!вЂќ Twenty years ago, Jay Z famously stated вЂ“ After making the purchase for $56 million back then, the superstar rapper counting lots of paper with this newest boss move. SquareвЂ™s ownership will include licensing deals with major labels. In fact, Square announced plans to name Shawn вЂњJay ZвЂќ Carter to the Board of Directors.Д«ut 80% of the pie will belong to Square. Jay, along with CEO Desiree Perez will remain on board to help run TIDAL. Not only his wife, Beyonce, but also Rihanna, Madonna, Alicia Keys, Kanye West, Chris Martin, Calvin Harris, and others. Tidal Rank 25 After revealing that JAY-Z was set to sell a TIDAL for 350 million USD, new reports have indicated that the music mogul has finalized a deal with Jack Dorsey вЂs Square Inc. TIDAL boasts over 70 million songs in its catalogвЂ¦and all Ad-Free!Д«ack in 2015, when TIDALВ was launched, Jay Z partnered with several A-List celebrities. If you never jumped on board with TIDAL, itвЂ™s the first global music streaming service with high fidelity sound, hi-def video quality, and expertly curated playlists and original content. After being in talks since at least March, when Dorsey made comments about his plans to take TIDAL off the hands of his pal, the deal closed Friday morning. Now, Jay sells part of TIDALВ to Square, in a sweet deal to his friend, Twitter CEO, Jack Dorsey. TIDAL could be shopping around for a new owner.

Hov and Twitter boss Jack Dorsey have reportedly been in negotiations. In 2017, 33% of TIDAL was sold to Sprint, amount undisclosed. Jay Z Is Allegedly In Talks To Sell Tidal.

After owning the music streaming service for the past 6 years, Jay Z offloads the bulk of it for a sweet profit. He shared with his followers, вЂњSquare is acquiring a majority ownership stake in TIDAL through a new joint venture, with the original artists becoming the second largest group of shareholders, and JAY-Z joining the Square board.Jay Z sells TIDAL for $350 million. The rapper is now selling it for six times the amount it was worth just six years ago.ДЄt the time of the deal announcement, Jack Dorsey, CEO of Square and also co-founder and chief executive of Twitter, wrote a tweet thread breaking down the thought process behind the massive deal. The late icon Prince, who was famous for refusing to allow his music on streaming services due to the low pay rates, allowed Tidal to stream his music first because of Jay-ZвЂ™s ownership. The deal is an impressive one considering the history of Tidal, which Jay-Z bought for $56M in 2015 with a star-studded launch, including Alicia Keys, Rihanna, Madonna, Usher, Coldplay, and more, promising that artists would share in ownership. Jay Z bought Tidal for roughly 56 million in 2015 but itвЂ™s the Hard Knock Life for Apple Inc who was in talks to buy Tidal to boost its Apple Music service, according to a Wall Street Journal report in June. Rodriguez/Getty Images for The Recording Academy)ДЄccording to Complex, the $302M figure, вЂњrepresents the purchase price for SquareвЂ™s majority stake in Tidal.вЂќДЄs the deal is finalized, Square executive Jesse Dorogusker is said to take over as interim lead for Tidal while the search continues for someone to permanently head the company.

Square announced the deal in a statement earlier today (March 4), in which it confirmed that it would acquire a majority ownership stake in TIDAL. Jay-Z attends the Pre-GRAMMY Gala and GRAMMY Salute to Industry Icons Honoring Sean вЂњDiddyвЂќ Combs on Jan. JAY-Z has sold his streaming platform TIDAL to financial services firm Square, which is owned by Twitter CEO Jack Dorsey.

Jay z sells tidal