Ceo of Twitter and digital payment company Square, has reportedly expressed interest in acquiring Tidal streaming services from hip-hop icon Jay-Z. According to Bloomberg, this news arises after Dorsey was spotted vacationing with Beyonce and Jay-z in New York, and as early as a month ago in Hawaii.
In 2015 the mogul purchased Tidal at $56 million with investments from other high-profile artists such as Madonna, Nicki Minaj and Alicia Keys, says Business Insider. While other artist such as Rihanna, Beyonce’, Diddy and Kanye West also made a deal for exclusive releases. Since purchasing, the worth of the company has more than doubled from the purchase price.
Briefly after launching, Tidal jumped to number 16 in the app store. Initially designed as an alternative to other streaming services such as Spotify, Apple, and Pandora; sources say the service has yet to prove to be a “formidable” mainstream streaming service compared to its rivals.
Tidal nor Square has publicly spoken out about their dealings.