Wait so he will still get ownership right?
If I read this correctly, he still has a share, but no longer the majority owner.
Here is another article by Vox
In 2015, Jay-Z bought an obscure Norwegian streaming service for $56 million
in 2017, Sprint bought a third of Tidal and valued the company at $600 million.
Square is paying $300 million for a failed music service
Is that reporter on crack? How is this a failed music service?
lol ikr. That was also my problem with the article, but besides that, this was the only article that shows how the ownership changes at the time I was browsing.
as long as Tidal stays as good as it is or get’s even better, i don’t mind all of that. But please don’t ruin it, i like it.
A company once valued at 600M was bought for 300M, half its previous valuation.
Surely they hoped the value would go UP, not halve. Something happened that made prospects very grim going forward.
Good for him, I’m sure-ish the user base will at least halve the second spotify hifi is available…
It was for a 50% share. So, 300 mill is right on the mark.
Cut to Thursday’s deal, which values Tidal at something north of $300 million in an admission that Tidal hasn’t worked as a music service.
the company lost over 200million in value in 3-4 years. it was for the majority of ownership, not just 50%
and it failed at its initial concept of artist owned and artist exclusive, as most artists don’t own their music.
and i like tidal, i do not stream from just about anything else ever. but its plain to see they lost the battle to amazon/spotify
Which is exactly why this is happening now. I’ve seen this before where the competition basically “covers” you and they force your hand.
Uh no. They definitely failed…
I think what’s more interesting are these NFTs (Vox article). First time I’ve ever heard of them.
What are people’s thoughts? Does anybody have experience buying?