Last Week Jay Z Bought TIDAL For $56 Million, Today It Is Worth $250 Million
From $56 million to $250 million. That's the jump in value that the Jay Z lead TIDAL made in just over a week. Or at least that's the valuation that new investor Sprint just put on the music streaming service, according to the New York Post.
TIDAL has just 100,000 subscribers; but in addition to Jay Z, partners include Kanye West, Rihanna, Madonna, Nicki Minaj, Alicia Keys, Daft Punk and more.
Sprint is set to offer TIDAL on its phones in the coming weeks, according to sources. Softbank and private-equity firm KKR have also been approached for possible investments.