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  • Square.

  • The payments processing company co founded by Twitter CEO Jack Dorsey on Thursday agreed to by a majority ownership stake entitle a music streaming service owned by rapper Jay Z for $297 million in cash and stock.

  • Mhm Jay Z, whose real name is Shawn Carter, will become a member of Squares board of directors as part of the deal.

  • Square did not disclose the percentage of the ownership stake.

  • Dorsey tweeted about the deal Thursday, saying Quote why would a music streaming company and a financial services company joined forces?

  • It comes down to a simple idea.

  • Finding new ways for artists to support their work.

  • New ideas are found at the intersections, and we believe there's a compelling one between music and the economy.

  • Making the economy work for artists is similar to what Square has done for sellers.

  • Jay Z also tweeted about the pact, saying Quote Jack is one of the greatest minds of our times and our many discussions about titles.

  • Endless possibilities have made me even more inspired about its future, Square said in a statement.

  • That title will operate independently within square and existing artists.

  • Shareholders will be the remaining stake holders title, which Jay Z bought for roughly $56 million in 2015 calls itself an artist owned service backed by Kanye West, Beyonce, Madonna, Rihanna and Nicki Minaj, among others, and is available in more than 56 countries.

Square.

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Square acquires Tidal for $297 million

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    林宜悉 posted on 2021/03/05
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