News reports from inside sources indicate that ByteDance is ready to hand over their control of TikTok to Microsoft, and surprisingly Walmart. It’s reported that the social media application used by celebrities & influencers, will be sold before August 31st. This acquisition agreement follows after President Donald Trump signed a “POTUS Executive Order”, which stated that TikTok would be banned by September 30th.
ByteDance maintaining ownership of TikTok in global democratic markets won’t be possible going forward. Nations like India implemented a banning of this social media service in June 2020. The Indian Government cited similar concerns to President Trump’s Administration that ByteDance is assisting the Chinese Communist Party in collecting data on global civilians. This level of spying is highly illegal under international law, which China doesn’t obey as a Communist regime.
Canada, New Zealand & Australia have also expressed their concerns regarding the ownership of TikTok. This led towards the Microsoft Company citing interest in acquiring TikTok’s operations. It’s known that three corporations have made bids towards the acquisition of this social media platform, with one being Oracle. It’s not known what their respective bids were listed at, with the valuation of TikTok throughout these regions being $30 Billion. Microsoft would likely need a secondary partner for this acquisition, with inside sources indicating that Walmart has been selected as their Co-Investor.
Reports first indicate that the Alphabet Company was partnering with Walmart, where the two would make a respective bid towards purchasing TikTok. It appears that negotiations with Alphabet didn’t reach a final agreement, leading towards Walmart entering new talks with Microsoft. Google’s Parent Company wasn’t willing to provide Walmart with a majority stake in TikTok, prompting Walmart to terminate discussions with Alphabet. It’s believed that the Alphabet Company still made a bid on TikTok’s acquisition.
When questioned by CNBC on the legitimacy of these claims from inside sources, the Walmart Company reflected that a potential relationship with Microsoft is being discussed. It’d allow for functionality of Walmart to grow tenfold on the social media level, allowing its brand to reach new customers & businesses.