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Project Panther Bidco

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Project Panther Bidco Ltd.
Company typePrivate
IndustryHolding company
Founded29 December 2014; 9 years ago (2014-12-29) in London, United Kingdom[1]
FounderLaurence Brown Jr[2]
HeadquartersThe Broadgate Tower Third Floor, 20 Primrose Street, London, EC2A 2RS
Key people
Juan Perez (Director)
SubsidiariesAspiro AB

Project Panther Bidco Ltd. is a British-American holding company. The company was founded in 2014 by Roc Nation CEO, Laurence Brown Jr., but indirectly owned and controlled by rapper and businessman Shawn Carter, also known as Jay-Z, to purchase the assets of Norwegian technology company Aspiro. By purchasing Aspiro, the company became the sole owner of the music streaming services TIDAL and WiMP.[2][3] WiMP merged into Tidal in March 2015.[4] In March 2021, majority ownership in Tidal was acquired by Block, Inc.[5]

History

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On 30 January 2015, it was announced that Project Panther Bidco Ltd. had bid SEK 464 million (£36 million, US$56 million) for the Norwegian technology Aspiro, developers of audio streaming services TIDAL and WiMP. Some minority shareholders of Aspiro opposed the takeover and argued that Project Panther Bidco undervalued the growth potential in their bid.[6] On 13 March 2015, the acquisition was announced and finalized after being accepted by over 90 percent of the Aspiro shareholders.[6]

In 2018, Project Panther Bidco, whose corporate headquarters are headquartered in New York City, hired a total of 238 workers, up from the 209 it had in the previous year.[7]

Subsidiaries

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References

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  1. ^ "Project Panther Bidco Limited – Overview". Companies House. Retrieved 8 February 2017.
  2. ^ a b "Project Panther Bidco Limited – Officers". Companies House. Retrieved 8 February 2017.
  3. ^ "That's Business, Man: Why Jay Z's Tidal Is a Complete Disaster". Bloomberg L.P. 28 May 2015. Retrieved 8 February 2017.
  4. ^ Williamson, Coral (23 March 2015). "Wimp and Tidal services merge". Music Week. Retrieved 9 April 2021.
  5. ^ "Square, Inc. Announces Plans to Acquire Majority Ownership Stake in Tidal". Bloomberg News. 4 March 2021. Retrieved 9 April 2021.
  6. ^ a b "Jay Z's $56 Million Bid for Aspiro Undervalues Company, Say Shareholders". Billboard. Retrieved 8 February 2017.
  7. ^ Ingham, Tim (9 February 2020). "Jay-Z's Tidal saw global revenues rise to $148m in 2018". Music Business Worldwide. Retrieved 25 April 2020.
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