Walmart, Microsoft Team On TikTok Bid

Walmart is making a bid with Microsoft to win the TikTok business in the United States.

TikTok, a video-sharing social media operation that has been subject to scrutiny of purported ties with the government of China, is selling off its business in the U.S., Canada, Australia and New Zealand in a deal observers are valuating at between $20 billion and $30 billion. Walmart has joined with Microsoft to bid on the platform, which it says could give it more flexibility in addressing a changing marketplace.

In a statement about its TikTok interests that it shared with HomeWorld Business, Walmart declared:

“The way TikTok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets. 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. We are confident that a Walmart and Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of U.S. government regulators.”