Since the day Trump threatened to ban the popular social media site TikTok many companies have shown interest in buying the US operations of the site. Trump has accused the site of collecting sensitive data that may hurt US national security. Many companies, including Microsoft, Walmart, and Oracle, have shown interest in buying the US, Canadian, Australian, and New Zealand operations of the site.
Earlier this week, we got to know that Microsoft is pushing Walmart and Oracle out of the league, but neither is out of the league yet. According to CNBC ByteDance, the parent company of TikTok based in Beijing is nearing an agreement to sign off the above mentioned regional operations in a deal worth $20-30 billion.
Now CNBC reports that Walmart is not out of the league; instead, the retail giant is teaming up with Microsoft to place the bid. Walmart wants to step into the entertainment to keep its competition with the other retail giant Amazon alive. The company is reportedly working on a subscription-based service called Walmart+, which will be very similar to Amazon Prime offered by its rival. The big-box retailer stated that TikTok is essential for its e-commerce and advertising business too. On the other hand, the company is silent on how TikTok can be integrated with the Walmart+ service.
Microsoft and Walmart have been working together for several years, and the combined bid may push Oracle and other companies out of the competition. Two years ago, the company signed a five-year cloud contract with Microsoft, which allowed the retailer to use Microsoft’s Azure infrastructure and the office suite.
Lastly, the 90 day period given by Trump is coming to its end. It will only be a matter of days before ByteDance announces its operations partner for the countries mentioned above.