Walmart joins Microsoft to buy video app TikTok

US retailer Walmart is the latest company to want a piece of video-sharing platform TikTok.The world’s largest retailer made a joint bid with tech giant Microsoft to buy TikTok’s US business. Microsoft delivers cloud computing services that help run the retailer’s stores and online shopping. The two companies signed a 5-year partnership in 2018.

Walmart said in a statement that a deal with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. The deal would help Walmart reach customers across virtual and physical sales channels.

“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,” Walmart said.

Zhang Yiming, ByteDance’s founder and CEO, said that the company was “moving quickly to find resolutions to the issues that we face globally, particularly in the U.S. and India.”

The move comes soon after TikTok CEO Kevin Mayer quit the company just three months after he took on the role. Earlier this month, US President Donald Trump issued an executive order restricting US transactions with TikTok. He later issued a separate order giving ByteDance 90 days to divest TikTok’s US operations.

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