Google, Spotify and Samsung explore potential acquisition of Tidal
Spotify and Google have been eyeing Jay Z’s company Tidal as a potential booster for their current digital streaming services, according to a New York Post report. Both companies are targeting small partnerships with the brand, such as Spotify’s proposed idea of a “Tidal powered by Spotify” banner.
Meanwhile, Samsung has also approached Tidal about a full acquisition, holding on-and-off talks with the company throughout its existence. The Korean tech giant has an indirect history with the service, having shelled out $28 million in funds to sponsor co-owner Rihanna’s newest album and tour. Sources point to “something really big” in the works, which both parties are keeping quiet.
Considering recent issues arising for the venture, Tidal may benefit from an acquisition by one of the three industry leaders. Kanye West lost upwards of $10 million after his album’s premiere on the website catalyzed widespread pirating, while Jay Z himself has reportedly poured his own money into the company to keep it afloat. It sits at a $100 million value, which is less than half the expected valuation by now of $250 million.
via: New York Post