A few weeks ago, Microsoft confirmed that it is in talks to purchase TikTok’s operations in the US, following an executive order by President Trump threatening a ban on the app unless it is acquired by a US-based company. Now, Walmart has told CNBC that it is partnering with Microsoft to purchase TikTok’s operations in the US, however, financial details of the deal or how the partnership will be split between the two companies are still a mystery.
“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,” Walmart as quoted as saying by CNBC.
Walmart claims its partnership with Microsoft to purchase the viral social media app’s US operations will meet the expectations of TikTok users in the US and will also satisfy the concerns of US regulatory bodies. The report claims that Microsoft’s deal with ByteDance to purchase TikTok’s operations in the US, Canada, Australia and New Zealand falls in the range of $20 billion to $30 billion.