Further this week the race for biding U.S. Operations of TikTok has increased rapidly adding one more to the list i.e WALMART which is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. Joining Microsoft to buy the US operation of ByteDance Tiktok.
As the biding for TikTok is at its final stage, Many US Giants like Microsoft, Twitter, Oracle had on negotiating with the acquisition price.
And now Microsoft with Walmart had increased their possibility to acquire the Tiktok US operations. As their Market value is more than $1.7 Trillion. The motive behind Walmart’s interest in TikTok will be to grow its online presence to build a marketplace and reach customers virtually and do short advertisements.
Walmart Officials state that “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”.
Zhang Yiming, ByteDance chief executive said that the operations of TikTok are moving swiftly to resolve its issues in the US and India.
“I cannot get into details at this point, but I can assure you that we are developing solutions that will be in the interest of users, creators, partners, and employees,” Mr. Zhang said.