It is no longer news that the legendary TikTok service will no longer run in the United States, as a result, Walmart and Microsoft will soon become new owners of the TikTok Service. Walmart has announced an unlikely partnership with Microsoft.
A rumor reaching sleettech followed with facts prove that TikTok the Chinese Giant social platform will soon become a property of Microsoft, Walmark or Oracle. The TikTok company is so close to accepting a deal with will sell its North American, Australian and New Zealand assets.
Before Walmart and Microsoft reached a decision to buy the platform, Oracle, has for some time now been in a talk to acquire TikTok but the two have not come to a consensus.
The US government initially disagreed with the idea of TikTok to be bought over by a US Company but yet the market is still open and the deal is still on the table.
How much is Tiktok worth?
Microsoft is ready to pay up $20 to $30 billion for TikTok, so therefore TickTok could be worth much more than that.
Walmart detailed its intentions behind wanting to purchase TikTok:
We believe a potential relationship with TikTok 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 TikTok users while satisfying the concerns of US government regulators.
It’s clear that Walmart wants to expand its market, which would make the acquisition of TikTok a very strategic move. And by teaming up with tech giant Microsoft, Walmart puts itself in a better position to win the bidding war.