Jay-Z sells majority stake in TIDAL to Twitter CEO Jack Dorsey’s company

Jay-Z, who founded streaming service TIDAL, has sold a majority stake in the company to Square, a company run and founded by Jack Dorsey, who is also the CEO of Twitter. As per the deal, JAY-Z will move to Square’s board of directors and Tidal’s artist owners will continue to co-own the platform, as the second largest group of shareholders. As per a Square press releases, "Square expects to pay a mix of cash and stock of $297 million for a significant majority ownership stake.” Earlier this week, Square announced it was launching its own bank.