Jay Z just won . . . BIG TIME. Two years ago, the rapper turned mogul invested about $56 million into Tidal. Now according to reports, the company is worth $600 MILLION. That's almost a 10X return on his investment.
Sprint announced today that they will be purchasing a 33% interest in the company - and the sale cost Sprint around $200m, valuing TIDAL at $600m.
Sprint’s chief executive officer, Marcelo Claure, will also join TIDAL’s Board of Directors.
In exchange for its new ownership stake, TIDAL has inked a deal with Sprint which it says will "make exclusive content that will only be available to current and new Sprint customers."