Walmart Inc., the Bentonville, Arkansas-headquartered American multinational retail industry tycoon became the latest in a string of US companies looking to a slice in the popular Chinese small video sharing app TikTok. In point of fact, according to an Associated Press report published earlier on Friday, the world’s largest online and brick-and-mortar retailer had made a joint bid with Microsoft Corp.
for purchasing the US businesses of TikTok, while the Associated Press report had also quoted a source familiar with the subject-matter as saying that the companies had declined to reveal the financial terms of the deal. Besides, it could seem an awkward combination for Walmart Inc.
and Microsoft Corp. to push for a joint bid for the ByteDance-owned TikTok’s US businesses, Walmart Inc. and the software industry tycoon Microsoft Corp. had already been business partners for over a couple of years. The two companies had signed off a five-year partnership deal back in the 2018s under which Microsoft Corp.
had agreed to provide the cloud computing services which have been running Walmart’s online stores and retail shopping, while the deal had also enabled them to join forces against a common business rival, Amazon.com Inc., the world’s No.
1 online retailer.
Walmart makes a joint bid with Microsoft to purchase TikTok’s US businesses
Apart from that, in latest vindication of the latest AP report, Walmart Inc.
was quoted saying in a statement late on Thursday that a deal with TikTok and Microsoft would aid the retailer to expand its advertising businesses, while the Arkansas-based world’s No. 1 retailing industry giant had also added that a successful buyout deal for TikTok would help it reach more shoppers.
Nonetheless, latest buyout bid for TikTok’s US businesses from Walmart Inc. came forth a day after a group of US users of TikTok had filed a lawsuit against the Commerce Department alleging that the US President Donald Trump’s executional order to divest ByteDance’s US businesses within a 45-day deadline had been unconstitutional.