Walmart & Microsoft Push Buy of TikTok US Assets
Purchase Would Make Walmart An Online Advertising Leader Source: Walmart $35b to $45 Billion Purchase Walmart could turn into an online advertising behemoth if its plans with Microsoft to acquire the US assets of China-owned social media/video app company TikTok go through successfully. Walmart is the world's largest retailer. The acquisition of TikTok would make it highly competitive with Amazon, Facebook and Google for young customers on social media. It would also greatly expand Walmart's advertising business and also its business with 3rd party marketplaces. Ticking Toward a Deadline President Trump has put the sale of TikTok's US assets into play. He deems TikTok a potential national security risk because of the vast amount of personal data it acquires on users in the US, which the government of China could demand. Trump has ordered China based parent company ByteDance to sell TikTok US assets by September 15 or the company will be banned from doing business