![]() ![]() In a statement he also shared on Twitter, Jay-Z called Dorsey one of the 'greatest minds of our time.' Tidal has presented itself as the artist-friendly alternative to other music streamers, and Square says it will take that phenomenon further for musicians just as it has for businesses with its payment systems. Square is best known for its payment platform that lets people make transactions through mobile devices, and also facilitates person-to-person cash transfers on Cash App. The merger will work to provide new 'powerful tools' for artists, including 'inclusive of new ways of getting paid,' the tech CEO added. He'll now help lead our entire company, including Seller and the Cash App, as soon as the deal closes.' 'I knew TIDAL was something special as soon as I experienced it, and I'm inspired to work with him. 'I'm grateful for Jay's vision, wisdom, and leadership,' Dorsey wrote. On Thursday, Dorsey shared a photo on Twitter of himself sitting down with Jay-Z at a table covered in scribbled notes and glasses of wine. The deal will also see Jay-Z named to Square's board of directors, and he and other artists who currently own shares in Tidal will remain stakeholders. Square - which was founded by Twitter CEO Jack Dorsey in 2009 - will pay $297 million in cash and stock for Tidal. Financial technology company Square said Thursday that it has reached an agreement to acquire majority ownership of Tidal, the music streaming service partly owned by Jay-Z.
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