This story is developing…
UPDATE 8/27/20 1140 EST Walmart to partner with Microsoft in bid for TikTok U.S. operations, reports CNBC.
“The way Tik Tok has integrated e-commerce and advertising capabilities in other markets is a clear benefit to creators and users in those markets,” the retailer said in a statement. “We believe a potential relationship with Tik Tok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses. We are confident that a Walmart and Microsoft partnership would meet both the expectations of US Tik Tok users while satisfying the concerns of US government regulators,” read a statement from Walmart.
TikTok parent ByteDance will announce the sale of the popular video social network to American-owned software giant Microsoft in an apparent win over the other suitor — Oracle.
The development was reported this morning by CNBC.
In related news, TikTok CEO Kevin Mayer has resigned this morning after only a few months on the job, reportedly due to ‘political pressure’.
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