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Walmart wants to acquire TikTok as well

News - Sep 08, 2020

The retail giant Walmart became a Microsoft’s partner in an attempt to acquire the popular platform for video content recording and sharing TikTok.

Namely, TikTok is trying to find a buyer in the SA because of conflicting political relations.

The retail giant told the CNN that it is participating in negotiations on a potential takeover with Microsoft.

Walmart claims that its interest in TikTok comes from the way that app “has integrated e-commerce and advertising capabilities in other markets”, adding that it will improve Walmart’s access to consumers.

“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 omni-channel customers as well as grow our third-party marketplace and advertising businesses,” says Walmart in its statement.

The announcement came only several hours after TikTok CEO Kevin Meyer resigned because the app was criticised by US president Donald Trump for being owned by China’s ByteDance.

Source: News agencies

 

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