Walmart Joins TikTok Bidding War

Walmart is exploring a potential investment in TikTok, according to sources close to the deal, joining a growing list of American companies considering bids for the Chinese-owned social media platform. The retail giant’s renewed interest reportedly came after Amazon entered discussions to join the bidding.

This wouldn’t be Walmart’s first attempt to acquire TikTok. In 2020, the company partnered with Microsoft in a bid for the platform, seeing it as a gateway to millions of potential customers and a valuable tool to boost its e-commerce and advertising operations. With TikTok’s future in the United States once again uncertain, Walmart is weighing whether to take another shot.

Friday, Trump signed an executive order extending the deadline from April 5 to mid-June that would either force TikTok’s sale or lead to a ban in the U.S. The extension would allow more time for bidders to finalize offers and potentially negotiate terms acceptable to both the U.S. and Chinese governments.

Multiple other entities are said to be preparing or considering bids, including Amazon, Oracle, and the app development company Applovin. In a surprising development, Tim Stokely, founder of the adult-content platform OnlyFans, has reportedly made a late-stage bid to acquire TikTok as well.