Report: Walmart joins Microsoft TikTok bid

Walmart is reportedly the latest player in the competition to purchase the U.S. business of the controversial Chinese social media platform TikTok.

According to CNBC, Walmart has confirmed it is teaming with Microsoft’s effort to acquire the TikTok service in the U.S., Canada, Australia, and New Zealand. While Walmart did not specify how much of a stake it might take in a Microsoft investment in TikTok, Microsoft previously said it was considering inviting other American companies to participate as minority investors. 

“We believe a potential relationship with TikTok U.S. in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses,” Walmart said in a statement to CNBC. “We are confident that a Walmart and Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of US government regulators.”

U.S. Secretary of State Mike Pompeo has publicly warned American users of the app that their personal information could wind up in the hands of Chinese Communist Party. The Trump administration is considering banning TikTok in the U.S. if its American operations are not purchased by a U.S. company by Sept. 15. Other bidders are said to include Oracle and Twitter.

Walmart, which has previously used TikTok as a marketing platform to reach younger consumers, has recently ramped up its omnichannel ad platform and integrated Walmart Marketplace with Shopify.