Washington Walmart's name has also been included in companies wishing to get a stake in the popular China-owned short video app TikTok. US President Donald Trump has ordered a ban on TickTock, in order to avoid that its parent company ByteDance would have to sell its US operations to an American company within 90 days.
A source attached to the deal said on condition of anonymity that the world's largest retailer has made a joint bid with Microsoft to buy TickTock's US business. This nexus may sound a bit strange, but Microsoft and Walmart are already business partners.
Microsoft provides cloud computing services, which are helpful in running a retailer's store and online shopping business. The two companies partnered for five years in 2018. Walmart said in a statement on Thursday that the deal with Microsoft and Ticketock could help grow its advertising business and reach more shoppers.
Ticketcock has 100 million users in the US. In addition to Microsoft, other tech companies such as Oracle have also shown interest in purchasing TickTock's US operations. Although ByteDance has not yet made any disclosure in this regard. The Wall Street General said in a report that ByteDance could demand up to $ 30 billion for TickTock's US business.
This post was published on August 28, 2020 12:20 pm
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