Square Inc., an American financial services, merchant services aggregator, is discussing with Jay-Z a possible acquisition of his music-streaming service called Tidal, Bloomberg has learned, citing a person familiar with the situation.
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While a potential financial side of the deal remains unknown, Jay-Z acquired Tidal for $56 million back in 2015, said Bloomberg's whistleblower. Tidal is a Norwegian music, podcast and video streaming service. The service was launched in 2014 by Norwegian public company Aspiro. The main difference of Tidal as compared with other streaming services such as Spotify is the exclusive content.
However, in 2017, Norwegian newspaper Dagens Næringsliv ('Today's Business') found that in accordance with Tidal's internal documents, the company had lower subscriber counts than had been publicly reported by Tidal.
Earlier in December, Square launched Bitcoin Clean Energy Investment Initiative to become net zero carbon for operations by 2030. The company has already donated $10 million to drive adoption and efficiency of renewables within the bitcoin ecosystem.
As part of the initiative, Square signed a partnership agreement with Watershed, a company focused on climate programs for businesses, to reduce carbon footprint.
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