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Walmart Joins Microsoft Bid To Buy Chinese-Owned Social Networking App TikTok
Summary: Walmart is teaming up with Microsoft to buy popular Chinese-owned social networking app TikTok, as reported by CNBC. Walmart's shares jumped 4.4% after news broke that the company had joined the talks. There are several potential buyers for the app and it is so far unclear which company's bid will be accepted, but TikTok's parent company ByteDance ...
Walmart is teaming up with Microsoft to buy popular Chinese-owned social networking app TikTok, as reported by CNBC.
Walmart's shares jumped 4.4% after news broke that the company had joined the talks. There are several potential buyers for the app and it is so far unclear which company's bid will be accepted, but TikTok's parent company ByteDance will likely make a decision in the coming days, sources familiar with the talks told the Wall Street Journal.
The purchase negotiations come as ByteDance faces a 90-day ultimatum issued on August 14 by President Trump stating that the company needs to find a U.S. buyer for the app. Several government officials have cited concerns that TikTok poses a national security threat if the app is collecting and sharing user data.
By Emily Mason
Tags: Microsoft,President Trump,TikTok,Walmart
Link: Walmart Joins Microsoft Bid To Buy Chinese-Owned Social Networking App TikTok [Copy]
