It’s no secret that TikTok’s days of operating in the U.S. are limited, unless the company is purchased by an American company. It’s also not surprising that plenty of corporations are in a bidding war for the viral video sharing service. Microsoft and Oracle are the biggest competitor, but a surprising partner has joined in. Teaming up with Microsoft, retail giant Walmart hopes to win the TikTok purchase war.
Walmart and Microsoft Team Up to Buy TikTok
Sources say that TikTok’s Beijing-based parent company, ByteDance, could sell TikTok within days. The U.S., Canadian, Australian, and New Zealand operations would go for $20 billion to $30 billion. ByteDance hasn’t picked a buyer, but that could happen faster than we think.
Microsoft and Oracle have been leading the TikTok purchase war. Now Walmart has confirmed its interest in working with Redmond to make it happen. The big-box retailer stated that TikTok’s integration of e-commerce and advertising “is a clear benefit to creators and users in those markets.”
Why Walmart Is in the TikTok Purchase War
What, exactly, Walmart would do with such a partnership is unclear. However, we do know that the retailer is struggling to keep up wit 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 benefits. Then again, we heard before that Walmart was going to launch its own streaming service, and it never happened.
If Microsoft and Walmart succeed in purchasing TikTok, the retail giant will gain access to hundreds of millions of consumers. Walmart could use the platform to deliver ads or drive buyers to its own e-commerce site. The executives at Walmart tend to make pretty shrewd business decisions, so they’re sure to have big plans for the short-form video site.