US retail giant Walmart joins Microsoft to buy TikTok, the Chinese-owned short-form video app that has come under fire from the Trump administration
US retail giant Walmart has said that it had teamed with Microsoft to buy TikTok, the Chinese-owned short-form video app that has come under fire from the administration of President Donald Trump.
The order effectively set a deadline for a sale of TikTok to a US company, with Trump insisting that the US should get a cut for its role in making the deal happen."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," the retailer told AFP.
"A social platform like TikTok would give Walmart easy access to the very audience it wants and needs to attract," Saunders said. Walmart saw its prof its jump in latest quarter as e-commerce sales surged during the coronavirus pandemic and US government stimulus payments boosted spending, the company recently reported.
Former Disney executive Mayer, who has only been in the post since May, said in a letter to staff that the "political environment has sharply changed" in recent weeks.Mayer's departure was taken by some market watchers as a sign that a deal to sell TikTok is imminent, with Oracle – owned by Trump donor Larry Ellison – also said to be in the bidding.
Mayer's resignation came days after TikTok, which has been downloaded 175 million times in the US and more than a billion times worldwide, filed a lawsuit arguing that Trump's order was a misuse of the International Emergency Economic Powers Act.
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