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.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
ATRIE TECHNOLOGY PVT. LTD.
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
SECUREYE SERVICES PVT. LTD.
IBALL WORLDWIDE PVT. LTD.
Technology Icons Of India 2023: Sunil Vachani
Sunil Vachani is the founder and chairman of India-listed Dixon Techno...
Technology Icons Of India 2023: Som Satsangi
With more than three decades in the IT Sector, Som is responsible for ...
Technology Icons Of India 2023: Rajendra Singh Pawar
Rajendra Singh Pawar is an entrepreneur and businessperson who founded...
ITI Limited widening its focus area
ITI Limited is a public sector undertaking company, has manufacturing ...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
New defence PSUs will help India become self-reliant
MIL, India’s biggest manufacturer and market leader is engaged in Pr...
WPG C&C COMPUTERS & PERIPHERALS PVT. LTD.
WPG C&C Computers & Peripherals (India) was incorporated in 2008 and ...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
B D SOFTWARE
BD Software is the distributor of IT security solutions in India. The ...