Tidal music stock price10/6/2023 It’s believed Dorsey, who spent more than four years on the board of Walt Disney Co., imagines Square will similarly own a collection of businesses under one corporate umbrella.ĭorsey was photographed in August in the Hamptons with Jay-Z and his wife, Beyoncé, and then again in December with the power couple and actor Sean Penn on a beach in Hawaii. Square’s two core products, Square Seller and Cash App, already operate somewhat separately within Square Inc., each with its own “lead” on the executive team. The closely held service hasn’t reported subscriber figures since saying it had 3 million paying customers in 2016.ĭorsey, meanwhile, has ambitions to build Square into a much broader company made up of stand-alone, complementary services. Jay-Z’s own music has been a lure for the platform, but he put his songs back on Spotify last year - raising questions about the health of Tidal. Tidal, which first launched in 2014, has struggled to keep pace with other streaming services, including Spotify Technology SA and Apple Music. Through Wednesday, they had surged 270 per cent this year. Square’s shares were little changed at US$230.77 as of 9:58 a.m. Square declined to comment, while Tidal didn’t respond to requests for comment. The negotiations may not result in a transaction. Square Inc., the digital-payment company run by Jack Dorsey, has held talks to acquire the music-streaming service Tidal as part of a push to diversify, according to a person familiar with the situation.ĭorsey has discussed a potential deal with Jay-Z, the rapper and music mogul who acquired Tidal for $56 million in early 2015, said the person, who asked not to be identified because the talks were private.
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