TikTok is now looking at a third buyer for its US operations. After Microsoft had begun talks with TikTok, Twitter and Oracle joined the race. Now, Walmart is teaming up with Microsoft as it opens its bid to buy the Chinese-owned app.
Walmart Buying TikTok?
CNBC reports that the US retail giant has confirmed its partnership with Microsoft. However, Walmart didn’t say how both companies will split TikTok. The company also didn’t say if they would be the majority owner.
Walmart’s bid signals its desire to expand into content hosting, competing directly with Amazon. Aside from buying TikTok, Walmart also plans to offer a membership program called Walmart+ for users. Now it’s got a counterpart to Amazon’s Prime subscription service.
How Did Walmart Team Up with Microsoft?
Engadget reports that Walmart had talked to Google’s parent company, Alphabet. Alphabet would have been the minority owner. However, Walmart chose Microsoft instead. In the report, the government wanted a tech company to head the attempts to buy TikTok. They had forced TikTok to sell for national security reasons, after all.
— Engadget (@engadget) August 27, 2020
TikTok Still in Hot Water
TikTok may be close to selling its operations in the US, Canada, Australia, and New Zealand. In a few days, the deal could push through. The agreement might be worth $20 to $30 billion.
US President Donald Trump had told TikTok to sell to a US buyer within 90 days. The Chinese-owned app did sue the Trump administration for the order. However, the lawsuit’s effects on the TikTok sale remain unclear.