Walmart cited a potential boost from TikTok to its online presence, including the giant retailer’s efforts to grow online advertising and a marketplace for third-party sellers.
Walmart Joins Microsoft In A Bid To Buy TikTok
Enlarge this image toggle caption Andrew Caballero-Reynolds/AFP via Getty Images Andrew Caballero-Reynolds/AFP via Getty Images
Walmart has teamed up with Microsoft in a bid to buy TikTok in one of the most unexpected twists in the saga of the hugely popular short-form video app.
In a statement, Walmart cited a potential boost from TikTok to the giant retailer’s online presence, including its efforts to grow online advertising and a marketplace for third-party sellers.
The Trump administration has escalated its campaign to force TikTok to cut ties with its Chinese ownership. Earlier this month, Microsoft announced its bid to buy TikTok’s operations in the U.S., Canada, Australia and New Zealand. Other bidders have been rumored to include Oracle and Twitter.
In Thursday’s statement, Walmart said it was “confident” that its joint deal with Microsoft would satisfy both TikTok users and U.S. government regulators. Microsoft declined to comment on Walmart’s announcement.
“The way TikTok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets,” 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.”
The news follows TikTok CEO Kevin Mayer’s surprise resignation on…
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