It’s no secret that the days of TikTok’s activity in the United States are limitedunless the business is purchased by a US corporation. It is also not surprising that many companies are in a bidding war for the viral video sharing service. Microsoft and Oracle are the biggest competitors, but a surprising partner has joined them. By teaming up with Microsoft, retail giant Walmart hopes to win the TikTok buying war.
Walmart and Microsoft team up to buy TikTok
Sources say Beijing-based TikTok’s parent company ByteDance could sell TikTok within days. Operations in the United States, Canada, Australia and New Zealand would cost between $ 20 billion and $ 30 billion. ByteDance didn’t choose a buyer, but it could happen faster than you think.
Microsoft and Oracle waged the TikTok buying war. Now Walmart has confirmed its interest in working with Redmond to make it happen. The big box retailer said TikTok’s integration of e-commerce and advertising “is a clear benefit to the creators and users of these markets.”
Why Walmart is in the TikTok buying war
It is not clear what exactly Walmart would do with such a partnership. However, we do know the retailer is struggling to keep up with Amazon, even going so far as to create its own membership program, Walmart +. The new service would be like Amazon Prime, which offers original TV shows and movies, along with a number of other perks. Then again, we heard that Walmart was going to launch its own streaming service, and that never happened.
If Microsoft and Walmart are successful in buying TikTok, the retail giant will have access to hundreds of millions of consumers. Walmart could use the platform to serve ads or drive shoppers to its own e-commerce site. Walmart executives tend to make pretty smart business decisions, so they’re sure to have big plans for the short video site.