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Microsoft and Walmart join hands to buy off TikTok in USA


Microsoft and Walmart has decided to take the load off from the US Government, in its effort to buy off the Social Media networking Chinese site TikTok.


According to CNBC, the partnership would have been confirmed by a spokesman for the retail chain. Axios reinforces that the arrival of Walmart could help transform the video platform into another e-commerce application for users and creators – something similar to what ByteDance, the current owner, already does with another app in China.


The news comes shortly after ByteDance’s TikTok CEO and COO, Kevin Mayer, a high-profile former Disney executive, resigned from both positions after only a few months in charge of operations. Mayer is leaving just three months after joining, in the middle of negotiations to sell the Chinese-owned video app's U.S. operations to Microsoft Corp or Oracle Corp. CEO Kevin Mayer,


TikTok owner ByteDance aims to enter into exclusive talks with the bidder in the next 24 to 48 hours and ink a deal by Sept. 15, people familiar with the matter told Reuters.

On the other hand, the merger of Microsoft with the retail giant serves as a way to put pressure on the Oracle database – which has also shown interest in the acquisition and will now have to move to get ahead in this race.


However, despite having resources and experience in e-commerce, Walmart’s entry into the business could also complicate TikTok’s regulatory approval a little more. This is because the chain of stores has a significant participation in China.


Retailer Walmart lauded TikTok's e-commerce and advertising capabilities. The sale of TikTok is happening as the company is under fire from the administration of U.S. President Donald Trump as a potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.


The Trump administration has demanded that China's ByteDance, which owns TikTok globally, sell its U.S. operations. Earlier this week, TikTok also sued over an executive order effectively banning it in the United States. The expectation is that ByteDance will take a hit on the future of TikTok soon. "We are confident that a Walmart and Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of U.S. government regulators,” Walmart said in a statement.


 

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