Jay-Z completes sale of Tidal to Jack Dorsey’s Square for reported $350M

>Jay-Z’s deal to sell his streaming service Tidal to Jack Dorsey’s financial services company Square has reportedly closed at $350 million.

Square announced the deal back in March, saying it expected to pay $297 million in a mix of cash and stock for an undisclosed majority ownership stake in Tidal, which Jay-Z and a group of other artists acquired for $56 million in 2015

Obviously Jay Z was uniquely positioned to do this, but what a good exit.

How does Square benefit from owning Tidal? Spotify just introduced hifi audio and Apple seems to be about to.