News

Walmart, yes that Walmart, is apparently working with Microsoft to buy TikTok

2020 doesn’t make sense.

by
Josiah Motley
August 28, 2020

Image: KnowTechie

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So, you already know that TikTok is being banned in the US. You also are almost certainly aware that Microsoft was interested in purchasing US operations of the platform. Now, in a move that doesn’t make any sense, but somehow makes perfect sense in 2020, Walmart is apparently getting in on the action.

According to a new report from CNBC and confirmed by Walmart, Microsoft and Walmart are apparently teaming up in an effort to buy the social media platform from ByteDance. The reported deal would likely be in the $20-30 billion range.

As for how the two companies would split ownership in the event of a buyout, that information has not been released by either company.

In a statement, Walmart notes, “We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses. We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators.”

This news comes around the time of Walmart showcasing its upcoming Walmart+ service, but it is unclear if this move regarding TikTok would affect the service in any way.

What do you think? How do you feel about Walmart and Microsoft owning TikTok? Would you still use the service? Let us know down below in the comments or carry the discussion over to our Twitter or Facebook.