Jay - Z sells 33% of Tidal to Sprint for 200 million dollars!!
It was announced on Monday that Sprint the cell phone company has acquired a 33% stake in Tidal music streaming service that Shawn Jay-Z Carter purchased in 2015.
The deal is reportedly worth $200 million dollars, that would value Tidal at $600 million dollars now which would mean Jay-Z has managed to gain quite a return on the 56 million he initially spent to buy the Swedish tech company Aspiro Including Tidal and a service called WIMP.
Now this deal is especially surprising ...considering the many problems Tidal has had in the past, I'm talking about three different CEOs in its first year, not to mention all the confusion over ownership of songs by the rapper Drake who initially signed on to Tidal but backed out two days before the initial launch of the event only to instead sign with Apple not to mention other problems with lawsuits well more like lawsuit galore. Such as lawsuits stemming from the CEO of Cash Money Records Birdman who is suing over Lil Wayne's album "The Carter". Numbers of class action lawsuits against title promising Kanye west's album would be a permanent Tidal exclusive to even Prince's estate Suing Rocnation's Tidal for streaming his catalog.
Apparently the Tidal CEO has more information on the current state of his own company Tidal to be able to go through with such an incredible deal such as this one with the Sprint but after all "he is a business man."
