Walmart collaborates with Microsoft in pursuit to acquire TikTok's U.S., Canada, Australia and New Zealand business
By MYBRANDBOOK
In collaboration with Microsoft Corp., Walmart Inc. wants to acquire TikTok. This move proves that the retail giant’s desire to become a force in technology and media and reach younger shoppers.
In an emailed statement, Walmart said that this move can help its third-party online marketplace unit along with its nascent advertising arm, two areas that Chief Executive Officer Doug McMillon has said he’d like to expand. The two companies already work together, as Walmart uses Microsoft’s Azure cloud platform across the entire company.
The share value of Walmart jumped as much as 3.6% to $135.47 in New York following news of the joint pursuit of TikTok, the biggest intraday gain since July 7.
Microsoft is in talks with TikTok to buy its business in the U.S., Canada, Australia and New Zealand. Other companies like Oracle Corp. and Twitter Inc. have come up as a potential bidder.
Walmart’s interest in the popular app shows how serious McMillon is about moving the world’s biggest retailer into the faster-growing arena of media and online content. It has partnered, and bought a stake in, Israeli video-production company Eko, which has developed things like interactive toy catalogues for Walmart.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
ICONS OF INDIA : RISHAD PREMJI
Rishad Premji is Executive Chairman of Wipro Limited, a $11.3 billion ...
ICONS OF INDIA : SANDIP PATEL
Sandip Patel is the Managing Director for IBM India & South Asia regio...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - ANJALI SUD, CEO – Tubi
Anjali Sud, the former CEO of Vimeo, now leads Tubi, Fox Corporation...