It is said that a deal for the Chinese social platform is around the corner.
The TikTok saga brings new developments every day it seems. The Internet phenomenon has attracted the attention of not just Microsoft but also tech companies like Oracle, Twitter, and Google. What’s more, negotiations are moving ahead fast after the ultimatum given by the US President Donald Trump.
And surprising as it sounds, Walmart wants to team up with Microsoft for a stake in TikTok.
A spokesperson for Walmart explained that the retail giant believes that it stands to benefit from the integrated e-commerce and advertising capabilities:
“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. 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.”
That said, while the name of Walmart be a surprise, the fact that other companies have expressed an interest is not. If anything, Microsoft said from the very beginning that it might involve other American firms in the TikTok negotiations.
These would, of course, only received a minority stake in the deal.
As for the deal itself, CNBC reports that a deal could be announced in the coming days, maybe even before the week is out.