Microsoft has received an unexpected ally for the bidding process for the US business of the TikTok network: The retail giant Walmart now wants to team up with Microsoft in order to be able to offer a higher purchase price.
The news channel CNBC reports that Walmart has already confirmed the plans, which at first glance are unusual for the group, to the broadcaster: They are now very interested in taking over the video application. However, the decision was not made to appear alone as a prospective customer but rather bundled the resources for the purchase with Microsoft.
According to sources, the business for sale for TikTok activities in the US, Canada, Australia, and New Zealand could fetch a price of 20 to 30 billion dollars. It is therefore logical that two such powerful US corporations should now join forces. Walmart is pursuing the takeover, as it intensifies competition with Amazon. Walmart plans to start a membership program called Walmart + – basically a response to Amazon Prime.
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In a statement to CNBC, a Walmart spokesperson said TikTok’s integration of e-commerce and advertising is a clear benefit for buyers and sellers in these markets and elaborates:
“We believe that a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way to reach and serve omnichannel customers and expand our third-party marketplace and advertising business,” it said. “We are confident that a partnership between Walmart and Microsoft would meet the expectations of TikTok users in the US while addressing concerns of US government regulators.“
Interesting timing of team building
This cooperation comes at an interesting time. Just recently, Oracle, the next technology company, had expressed its interest in TikTok. It is still not clear whether Bytedance will sell or whether a lawsuit is pending against the orders of the US President to sell or terminate the deal. On the other hand, China’s Foreign Ministry spokesperson threatened the US if it blocks TikTok or Wechat in the country, the Chinese people would dump Apple products if this happens.
I’m a communication enthusiast and junior editor-reporter at Research Snipers RS-NEWS, I have completed a degree in Mass Communication but very enthusiastic about new technology, games, and mobile devices. I have the main interest in Technology and games.