![]() Baird analyst David Koning this week recommended investors remain “patient” as he views the stock as “a strong and defensible franchise with great secular growth themes in payment.” With SQ shares up a stellar 267% year-to-date, Robert W. After sitting more than four years on the board of Walt Disney Co., Dorsey is looking into building a similar model for Square, whereby it would own a collection of businesses under one corporate umbrella, Bloomberg reported. The service is available in 53 countries and offers more than 60 million songs and 250,000 videos.ĭorsey, meanwhile, has a vision to turn the digital-payment company into a much broader company made up of stand-alone, complementary services. The closely held service hasn’t reported subscriber figures since saying it had 3 million paying customers in 2016, according to Bloomberg.Īmong Tidal owners are high-profile artists, including Beyoncé, Alicia Keys, Coldplay, Madonna, Rihanna and others, according to its website. Jay-Z’s own music has been the point of attention 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 been grappling with fierce competition from established streaming services, including Spotify Technology SA and Apple Music. Square declined to comment, while Tidal didn’t respond to requests for comment when contacted by Bloomberg. The negotiations may not result in a transaction. Square has held talks to buy the music-streaming platform Tidal as part of a move to diversify its services, Bloomberg reported.Īccording to the report, Square ( SQ) CEO Jack Dorsey has negotiated a potential deal with Jay-Z, the rapper and music mogul who bought Tidal for $56 million in early 2015. ![]()
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