Walmart Says It Has Teamed up With Microsoft on TikTok Bid

Walmart said it’s teaming up with Microsoft in a bid for TikTok. From a report: The retail giant confirmed to CNBC that it’s interested in buying the tech company. TikTok is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that’s likely to be in the $20 billion to $30 billion range, sources say. It has not yet chosen a buyer, but could announce the deal in coming days, sources say. With Walmart’s confirmation, it joins several others bidding on the tech company, including Oracle. Walmart is pursuing the acquisition at a time when it’s trying to better compete with Amazon. It plans to launch a membership program, called Walmart+, soon. The subscription-based service is the retailer’s answer to Amazon Prime, which includes original TV shows and movies. In a statement, the big-box retailer said TikTok’s integration of e-commerce and advertising “is a clear benefit to creators and users in those markets.” It did not say how it would use TikTok or whether it would be part of Walmart+.