He was famously photographed with Beyoncé, who is married to Jay-Z, last year. Some disagreed: There was chatter that the deal was about Dorsey's habit of hobnobbing with celebrities. Ives compared Dorsey to Tesla's Elon Musk in the boldness of his ambitions. "Dorsey is flexing his muscles and expanding his tentacles into banking, crypto, and now the Jay-Z Tidal deal," Wedbush analyst Daniel Ives told Protocol. (Caviar was another, until Square sold it to DoorDash.) Now Tidal joins the portfolio. Already, he talks about Register and Cash App as two distinct businesses within Square. It also suggests Dorsey wants to diversify Square far beyond its original smartphone-swipe business. And if Square does something with Tidal, which promised to give artists a bigger cut of the money produced by streaming, it will likely be about giving musicians more control over the revenue streams they create. Having its own bank gives Square more purchase in the financial world. If there's a theme around the moves, it's control. On Thursday, Dorsey announced Square was taking a majority stake in Tidal, the music-streaming service backed by Jay-Z, for $297 million. It was a big week for Jack Dorsey, who started by turning heads in Wall Street, and then went Hollywood with an unexpected music-streaming deal.ĭorsey's payments company, Square, announced Monday that it now has an actual bank, Square Financial Services, which just got a charter approved.
0 kommentar(er)
