![]() ![]() ![]() His tours (with his wife, Beyonce, or collaborator Kanye West) gross hundreds of millions of dollars worldwide. ![]() Each session also has audience participation built-in - there’s ample time included for audience questions and discussion.Madonna, Deadmau5, Kanye West and Jay Z onstage at the Tidal launch event. We’ll cover every aspect of company building: Fundraising, recruiting, sales, product market fit, PR, marketing and brand building. You’ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. But the deal is cheap, snagging Jay-Z as a leader is a win and it’s hard to win by only playing corporate defense.Įarly Stage is the premier “how-to” event for startup entrepreneurs and investors. Perhaps the Square-Tidal deal won’t generate the future growth that Square imagines. If the answer is yes, Square could now be in a leading position to create that market. If there is space in the market for Square to bring music-based NFTs to its larger consumer user base is an interesting question. Given that Square has a growing cryptocurrency business via Cash App, and has invested hundreds of millions of dollars into bitcoin itself. And having Jay-Z at the Square boardroom table will hardly make the company less innovative he may bring fresh perspective.Īnd then there’s the question of NFTs, or non-fungible tokens, a new form of digital asset that have recently become the cause célèbre of the cryptocurrency community. You can imagine tie-ups between the music company and the youth-skewing Cash App audience. Square has a known win in its consumer-focused Cash App service, which reached 36 million monthly actives in December of 2020, up from 24 million in the same period one year prior. In its most recent quarterly earnings report, “in-person only” usage is falling as a percentage of seller gross payment volume (GPV), while “online only” and “omnichannel” GPV are taking up the slack. Square’s business users, its “seller ecosystem,” as it likes to call it, are increasingly digital. Why not take a swing at a part of the economy - music - that has migrated from the physical world to the digital in the past few years, much like small businesses in recent quarters? The company bought food-delivery service Caviar in 2014 before selling it to DoorDash in 2019, for example that Square appears to have made a venture-level return on the transaction is immaterial to the focus argument.Īnd Dorsey is not wrong that Square did shake up the commerce game for many offline businesses with its original card reader. And Square has made acquisitions in the past that appeared adjacent and failed to stick. It’s not hard to riff on the seeming strangeness of Square and Tidal as a pair. Some early reaction to the deal has proved negative. The deal also installs musician and businessperson Jay-Z on Square’s board. Noting that “new ideas are found at the intersection,” Dorsey argued that the confluence of “music and the economy” is one such point of convergence. Dorsey’s expectation is that his company can replicate the success of Cash App and other Square products in the world of music. In his opening message, he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!” Dorsey seemed to expect the transaction to generate skepticism - which it definitely has. Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. The deal, worth some $297 million, will allow artist-partners to keep their ownership in the music company. This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service.
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