According to reports, Jay-Z has agreed to sell his streaming platform Tidal to Jack Dorsey's company Square for $350 million. Hov launched Tidal back in 2015 for $56 million in partnership with several high-profile artists including Beyonce, Rihanna, Kanye West, Madonna, Alicia Keys, Calvin Harris, and Chris Martin.
The deal was officially closed Friday morning, but Dorsey announced the move back in March. Roc Nation CEO Desiree Perez reportedly helped broker the deal and will remain onboard to run things at Tidal. The $350 million price tag gives Square 80% control over the company, in addition, to control over licensing.
Source: tmz.com
