Walmart Joins Microsoft In A Bid To Buy TikTok

After U.S. President Donald Trump ordered ByteDance to sell TikTok’s business in the United States, Microsoft became a hot spot for acquiring TikTok. American media reported on August 27 that the transaction may be completed within a few days. And the world’s largest retailer Walmart (Walmart) said it has teamed up with Microsoft to acquire TikTok,

US CNBC reported on the 27th that TikTok’s US business may change hands within a few days at an estimated price of US$20 to 30 billion. However, the company is still negotiating deals with Oracle, Microsoft and another US company. The buyer has not yet been decided. The White House economic adviser, Larry Kudlow, said in an interview that Washington has no opinion on the acquisition.

On the same day, Walmart also reported that it intends to participate in the acquisition war. Reports indicate that Walmart and Softbank have joined forces to study the possibility of taking TikTok under its umbrella. However, sources say that they have not included the backbone of cloud technology and therefore have a high chance of not being accepted by Washington. .

Walmart later confirmed that it wanted to participate in the acquisition. The company issued a statement to CNBC saying that the company was prepared to cooperate with Microsoft, referring to TikTok’s other markets to create an e-commerce and advertising environment that would bring benefits to creators and users. Walmart believes that if it cooperates with Microsoft to develop TikTok’s American market, it will be beneficial for the company to reach customers from different channels, and is confident that it can meet the expectations of local users in addition to meeting the requirements of the US government’s regulatory authorities.

Kevin Mayer, Chief Executive Officer of TikTok, resigned and took office less than three months.

Kevin Mayer, the chief executive of TikTok, the overseas version of TikTok, a mobile phone owned by China’s ByteDance, announced on August 26 that he would leave the company. General manager Vanessa Pappas temporarily replaced him. Meyer moved from Disney to TikTok in less than three months.

Meyer sent a letter to the employee announcing his resignation. He pointed out that as the political environment has improved drastically, he has been reflecting on the structural changes required by the company in recent weeks and the significance of agreeing to take over the position. He said that based on the above background, when a solution is expected to be reached soon, he announced his decision to leave the company with a heavy heart.

TikTok confirmed through an email statement that Meyer is about to leave, and pointed out that the political situation in the past few months has significantly changed Meyer’s responsibilities.

Zhang Yiming, the founder and CEO of ByteDance, said that the company is quickly looking for solutions to the problems facing the world, especially the United States and India. He described that Meyer joined the company at a time when he was facing the most difficult challenge.

 

 

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Walmart Joins Microsoft In A Bid To Buy TikTok - /10

Summary

After U.S. President Donald Trump ordered ByteDance to sell TikTok’s business in the United States, Microsoft became a hot spot for acquiring TikTok.

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