Jay-Z Sells Tidal For 350 Million

May 03, 2021

By Stevenson Altidor

On Friday (April 30th), a deal hashed out between the legendary rapper to sell Tidal for $350 million to Square and Twitter CEO Jack Dorsey, according to TMZ.

The deal was in motion for months, with Jack announcing his aspirations to buy a majority stake of the streaming platform back in early March. Square will now receive 80 percent ownership of TIDAL and acquire licensing deals with major record labels. At the same time, artists and owners will stay with TIDAL.

On March 4th, Jay made a rare appearance on social media to heap the praise of Jack Dorsey.

"Jack is one of the greatest minds of our times, and our many discussions about TIDAL's endless possibilities have made me even more inspired about its future." He captioned. "This shared vision makes me even more excited to join the Square board."

Jay-Z initially launched Tidal in 2015 after coming victorious in a $56 million bid from Swedish streaming company Aspiro. Now Hov and Roc Nation CEO Desiree Perez will continue to play a role at Tidal.