Wal-Mart confirmed tonight that the company is teaming up with Microsoft to bid for TikTok. Wal-Mart told the media that it is interested in acquiring TikTok. Stimulated by the news, Wal-Mart’s stock price rose more than 2%.
Wal-Mart said in a statement that TikTok integrates e-commerce and advertising, which is a clear benefit to creators and users in this market.
Wal-Mart said: “We believe that by cooperating with Microsoft and establishing a cooperative relationship with TikTok, we can provide Wal-Mart with an important way to reach and serve omni-channel customers, and develop our third-party market and advertising business. We believe that, The cooperation between Wal-Mart and Microsoft can not only meet the expectations of American TikTok users, but also address the concerns of US government regulators.”
According to multiple media reports, the current TikTok’s main competitors include Microsoft and Oracle. As for the final buyer, it has not yet been determined, and negotiations are still continuing. TikTok will announce the transaction as soon as next week, and the transaction size may be between 20 billion and 30 billion US dollars .
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