Walmart mulling partnership with Microsoft in TikTok purchase


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Walmart, known for selling large cereal boxes and cheap clothes, wants to own a fast-growing social-media app popular with lip-sync­ing teens.

The world’s largest retailer, led by CEO Doug McMillon, on Thursday confirmed it’s in the running to buy video app TikTok — and that it has partnered with Microsoft to pull off the deal.

A Walmart-TikTok pairing may sound as strange as some of the kooky videos on the popular platform, but news of the talks, first reported by CNBC, sent shares of Walmart up 4.5 percent on hopes that TikTok could help cultivate a new generation of Walmart shoppers.

“Walmart and TikTok is bizarre,” said Nii Ahene, chief strategy officer of Tinuiti, a digital marketing agency. “But it gets Walmart in front of Gen-Z consumers who don’t watch television and have ad blockers on their phones.”

“The main thing to remember is that Tik Tok is ready to sell stuff,” added Brittain Ladd, a former Amazon executive. “You get an ad and click on it, and the sellers fulfill the order. Walmart can scale the e-commerce capability of TikTok, which is really just in its infancy and well on its way to becoming a media company as well.”

Walmart on Thursday also pointed to the potential to use TikTok to sell ads.

NY Post


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Source: Vanguard News.

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