Walmart Inc. issued a public statement regarding discussions with Microsoft involving ByteDance Ltd.’s TikTok service in the United States.
The way TikTok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets. Walmart believes a potential relationship with TikTok U.S. in partnership with Microsoft could add this key functionality and provide Walmart with an important way to reach and serve omnichannel customers as well as grow their third-party marketplace and advertising businesses. Walmart expressed confidence that a Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of U.S. government regulators.
The mobile app is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that’s likely to be in the $20 billion to $30 billion range, sources say.
If this deal is approved, the acquisition would give Walmart and Microsoft access to hundreds of millions of consumers who could buy their products or become a lucrative audience for ads.
