56 million didn't become a quarter billy, Sprint bought a stake for 200 million that valued it at 600 million. Then this latest purchase values it as something else, perhaps more. But then again he invited a bunch of artists to take small stakes too, so that 56 million wasn't his.
Square to aquire majority ownership in Tidal. Jay-Z joins board of Square
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Frangala
All Star
That's the end game of every business unless you want to keep it family owned or there is some sentimental value to it. You either exit your investment through a public listing (IPO) where all of us can buy the shares of the company or another private buyer can buy it at higher valuation than the money you put it in.
The problem is that it is hard for Black businesses to remain Black because (1) any entrepreneur regardless of race wants to exit their investments with a great return and with more money than what they initially invested in the business (2) People and institutions with great capital are white. There is not enough capital among Black people to do transfer Black ownership to another Black ownership if you want to exit your investments. If you are a Black business that has grown and became profitable and increased your value over the years more likely than not the acquirer that is willing to pay for a high valuation is a white led or owned acquirer.
The Midnight Marauder
All Star
No he didn't.
No streaming services turn profits currently. The operational cost FAR exceed the revenue brought in. It's a maturing industry that people are getting into now so that they'll be invested in these companies when they finally start making profits, which will probably be about 10-15 years from now.
If you jump in the streaming game, you have to be able to sustain losing HUGE amounts of money for an extended period of time. That's why you almost all of these services are attached to tech conglomerates. Spotify loses $2 Million A DAY, and that's with revenue that far exceeds Tidal.
It's actually very possible that Jay LOST money on this deal.
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I use Tidal so I can only hope this means changes for the better.
was mos def sold as a Black owned thing.
Several people that did business with tidal did it because of Black ownership. When Nore was shopping drink champs he could have signed the same type of deals Jay is signing right now "partnerships" for bigger paper. People thought they were building equity in a Black business and partnering with a Black business. this has been a huge selling point...
And CashApp has a noted interest in Bitcoin
JBP about to lose their minds
Hasn't Joe been saying cash app about to get in the music business/start a record label?
He must of knew about this.
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eastside313
Superstar
All the people that bought in damn them. If you can’t get Taylor swift it’s a flop
Jay Z in the next Kingdom Hearts?
Yo I SWEAR when I read Square I thought Square Enix
I was like Jay-Z gonna be a summons in Final Fantasy
The whole press conference was artists of all shades and it was being sold as artists owned.
Nore went with whatever he felt he was most comfortable with and decade old friendships. And who knows or cares what Nore thinks.
The point is how they sold it to the people that bring in the money, the public.
It was artist owned and HIFI, people got mad cause it was only rich artists and nobody has expensive headphones/system, respectively. Then they dropped that and just started pushing the HIFI/highest payments to artists angle.
Of course, they have a lot more content percentage wise targeting urban culture people but that has little to do with who owns it. That's a business decision any race could make.
Jay on some inception shyt lately 
Nigerianwonder
Superstar
Salute Hov!
Folks that never supported Tidal gonna come in here talking about what about black ownership and hov being a capitalist.
Man turned $50Ms into 300Ms in 5 years. And original stakeholders kept their piece of the pie.
A win for hov is a win for black ownership and empowerment. He is playing their game and winning.
Exactly. Black folks barely even supported it. Proud to say I supported it from day one and will continue to do so as long as its still dope. Folks claim they want stuff black owned until it comes time to support with their money. Same clowns who were also originally trying to claim Jay didnt even own it to begin with. How can he sell majority ownership of something he dont own and why is square negotiating with him? lol.
Jay retaining a large ownership stake in Tidal and being on the board of square is crazy. Dude really about to be worth 2 billy by the end of the year. Streaming wars about to get real interesting now that Tidal got a company worth over 100 billion behind it.
All artists stopped doing “exclusives” ..that was hot for like a year
besides Wayne and datpiff..still goin strong
Salute Hov!
Folks that never supported Tidal gonna come in here talking about what about black ownership and hov being a capitalist.
Man turned $50Ms into 300Ms in 5 years. And original stakeholders kept their piece of the pie.
A win for hov is a win for black ownership and empowerment. He is playing their game and winning.
A win for Hov is a Win for Hov and his family, how do black people benefit from this?
Where’s your stats for blacks people barely supporting it?
Sbp
Superstar
False