Square Inc. Has Discussed Acquiring Tidal From Jay-Z: Report
Jack Dorsey is not playing games. The Twitter CEO has been expanding his long-running, micro-blogging platform with new features in recent months, and it's being reported that he's interested in swooping up Tidal from Jay-Z. The Roc Nation Mogul first acquired the streaming service back in 2015 for $56 million, and while there were some who were apprehensive, Hov and his team have developed Tidal into a major contender.
Dorsey has taken notice and Bloomberg reports that he's been in talks with Jay-Z to have his company Square Inc. acquire Tidal. It's a move that's being made to reportedly "diversify," and a source has revealed that the pair of multi-millionaires have already begun discussions about future possibilities. However, it all could end at negotiations and may not come to fruition.
Bloomberg attempted to reach out to both Tidal and Square representatives but was unable to receive a response. The outlet never got through to Tidal and Square declined to make a statement regarding the rumors. It would make for a massive deal for both businessmen and it would be interesting to see, if this actually happened, what changes would be made and if Jay-Z would continue to have input into the streaming service's continued development.