Walmart confirms teaming up with Microsoft on TikTok deal
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Walmart Inc. has issued a statement confirming discussions with Microsoft involving ByteDance Ltd.’s TikTok service in the United States.
The retail giant said: “We believe a potential relationship with TikTok U.S. 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.”
Quoting sources, CNBC said that TikTok’s Beijing-based parent company, ByteDance, is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that’s likely to be in the 20 billion dollars to 30 billion dollars range.
Walmart added to the statement: “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.”
Picture:Walmart media gallery