Walmart Joins Microsoft Bid To Acquire TikTok

Bentonville, August 28: In a major development related to the acquisition of TikTok, retail giant Walmart announced that it is teaming up with Microsoft in its bid to acquire US operation of TikTok, the popular Chinese video-sharing application. Walmart said in an announcement that an arrangement with Microsoft and TikTok could assist it with extending its promoting business and arrive at more customers.

 

 

In a statement, Walmart said, “We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses. We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators.”

 

Earlier Microsoft also has confirmed discussions with TikTok; other tech companies such as Oracle are also reportedly interested in a possible acquisition. Meanwhile, Microsoft and Walmart are already business partners, with Microsoft providing cloud computing services that help run the retailer’s stores and online shopping. The two companies signed a 5-year partnership in 2018, enabling them to join forces against shared rival Amazon.

 

It just comes hours after TikTok CEO Kevin Mayers announced his resignation. Meyer who joined TikTok from Walt Disney three months ago cited the sharp change in the political environment as the reason for leaving his job. ByteDance has been in talks to sell TikTok’s North American, Australian, and New Zealand operations which could be worth $25 billion to $30 billion.

 

TikTok is under fire for being a potential national security risk due to the vast amount of private data the app is compiling on US consumers. President Trump has forced TikTok to either sell or spin off its American branch within 90 days. This occurred after Trump signed a separate executive order banning American transactions with WeChat and TikTok’s parent company ByteDance in 45 days.