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Walmart is teaming up with Microsoft to acquire TikTok's operations | Report

29 August 2020 0

Several names are on the bidders’ list to acquire TikTok’s US operations. Microsoft’s name is on the top as it has been actively participating and doing efforts to close a deal as soon as possible. Other reported names include some Chinese banks, Oracle, Twitter, and even Google. But these are not the only bidders that are eyeing a potential deal.

According to reports, Walmart has confirmed to multiple news outlets that it has expressed interest in teaming up with Microsoft to acquire TikTok’s operations that are being operated in several countries. Microsoft had already confirmed that there can be other American companies in the Tiktok negotiations but these would only receive a minority stake. So, Walmart’s interest in closing the deal together with Microsoft does not come as a surprise.

“The way TikTok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets,” a Walmart spokesperson was quoted as saying by CNBC.

“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.”

Black clouds are hovering over TikTok’s parent company ByteDance as it needs to come to a decision so that its operations could go smooth in the US and several other countries, including New Zealand, Australia. Earlier this month, President Trump signed an executive order that gave ByteDance 45 additional days to make a deal to divest the US operations of its popular video-sharing app. This deadline was, however, extended until mid-November.

Microsoft originally said that an announcement over the TikTok deal could be announced on September 15 but there are rumors that an agreement could be revealed as soon as this week.



Walmart is teaming up with Microsoft to acquire TikTok's operations | Report
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