Jay-Z's company acquires Aspiro; Square takes majority stake in Tidal
What happened
Jay-Z's company acquired Aspiro, the Norwegian technology company behind the streaming services Tidal and WiMP. Separately, Jack Dorsey's financial technology company, Square, agreed to acquire a majority stake in Tidal for $297 million. Jay-Z's company had previously acquired Aspiro in 2015 for approximately $56 million.
From indiatimes.com
Why it matters
The acquisitions reflect the growing overlap between the fintech and entertainment industries, driven by efforts to center artists within the music business. These moves involve major players in both technology and music streaming.
Fintech and entertainment industries are overlapping, driven by a desire to center artists in the music business.
From indiatimes.com
Who's involved
- Jay-ZJay-Z's company acquired Aspiro, the Norwegian technology company behind Tidal.
- Jack DorseyJack Dorsey's Square acquired a majority stake in Tidal.
- AspiroAspiro is the Norwegian technology company whose services, Tidal and WiMP, were acquired.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BLOCKSpeculative
Block might see its overall business ecosystem expand due to Square's acquisition of a majority stake in Tidal.
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The entities involved
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Jay-Z
American rapper, record producer, and entrepreneur (born 1969)
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Jack Dorsey
American software entrepreneur and co-founder of Twitter
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Aspiro
Norwegian company
Nothing else this week.