Skip to content
Search

Latest Stories

Walmart joins Microsoft bid for TikTok

WALMART Inc said it was joining Microsoft in a bid for social media company TikTok's US assets, revealing its plans hours after the video company's chief executive said he would step down.

CEO Kevin Mayer, a high-profile former Disney executive, is leaving three months after joining TikTok, in the middle of negotiations to sell the Chinese-owned short-form video app's US operations to Microsoft Corp or Oracle Corp .


TikTok owner ByteDance aims to enter exclusive talks with a bidder  and ink a deal by 15 September, people familiar with the matter said.

ByteDance declined to comment.

The sale of TikTok is happening as the company is under fire from the administration of US president Donald Trump as a potential national security risk due to the vast amount of private data the app is compiling on US consumers.

The Trump administration has demanded that China's ByteDance, which owns TikTok globally, sell its US operations. Earlier this week, TikTok also sued over an executive order effectively banning it in the US.

Retailer Walmart lauded TikTok's integration of e-commerce and advertising capabilities in other markets and said that a three-way partnership could bring that integration to the US. The deal would help Walmart reach customers across virtual and physical sales channels and grow its online marketplace and its advertising business.

"We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators,” Walmart said in a statement.

Mayer was Walt Disney Co's top streaming executive before becoming chief executive officer of TikTok and chief operating officer of parent ByteDance on June 1.

ByteDance founder and CEO Zhang Yiming said in a separate letter that the company was "moving quickly to find resolutions to the issues that we face globally, particularly in the US and India".

He said Mayer had joined just as the company was "entering arguably our most challenging moment."

"It is never easy to come into a leadership position in a company moving as quickly as we are, and the circumstances following his arrival made it all the more complex," Zhang said.

US, INDIA CHALLENGES

Amid growing distrust between Washington and Beijing, Trump complained that TikTok was a national security threat and could share information about users with China's government.

Trump issued an executive order banning US transactions with TikTok on Aug. 6, effective in mid-September. He issued a separate order about a week later giving ByteDance 90 days to divest of TikTok's US operations and data.

ByteDance has been in talks to sell TikTok's North American, Australian and New Zealand operations which could be worth $25 billion to $30 billion, people with knowledge of the matter have said.

The company has also been targeted in India, where TikTok was one of 59 Chinese apps banned by the Indian government in June following a border clash between India and China.

That month, Mayer wrote to India's government saying China's government has never requested user data, nor would TikTok turn it over if asked.

TechCrunch reported earlier this month that ByteDance was in talks with India's Reliance for investment in TikTok.

TikTok has become a global sensation since ByteDance launched the app in 2017, with operations in countries such as France, South Korea, Indonesia, Russia and Brazil. In April, the app hit 2 billion downloads globally.

Mayer was scheduled to leave TikTok as part of the planned sale, as the global role he had been hired for would no longer exist, according to a person familiar with the matter.

Zhang has been the key person in TikTok sale talks, said two people with knowledge of the matter.

TikTok's decision to launch a $200 million "creator fund" in July was spearheaded by TikTok's former head Alex Zhu, though Mayer was also directly involved, said two of the people.

More For You

Ed Sheeran F1 movie song

Ed Sheeran performs Drive on a racetrack in the new F1 music video

Youtube Screengrab/Ed Sheeran

Ed Sheeran teams up with John Mayer and Dave Grohl for rock anthem in Brad Pitt’s 'F1' movie

British singer Ed Sheeran is shifting lanes musically. Known for his emotional ballads and acoustic pop, Sheeran has taken a bold turn into rock territory with Drive, a gritty new single written for Brad Pitt’s upcoming Formula One film, F1. The track, released ahead of the film’s 27 June global premiere, shows the singer ditching his usual gentle strumming for loud guitar riffs, pounding drums, and full-throttle energy.

A rock track built for speed and the screen

Sheeran shared that he was invited to write a song for the film and immediately knew he wanted it to feel like a proper “driving song”, something loud, intense, and worthy of the speed and thrill of Formula One. He teamed up with guitarist John Mayer and producer Blake Slatkin to bring that vision to life. The result? A track with Foo Fighters’ Dave Grohl on drums, Pino Palladino on bass, and Rami Jaffee on keys. It’s an all-star crew of rock musicians who helped Sheeran hit the accelerator.

Keep ReadingShow less
Eye Spy: Top stories from the world of entertainment

Ed Sheeran and Arijit Singh

Eye Spy: Top stories from the world of entertainment

Ed Sheeran and Arijit Singh’s ‘Sapphire’ collaboration misses the mark

The song everyone is talking about this month is Sapphire – Ed Sheeran’s collaboration with Arijit Singh. But instead of a true duet, Arijit takes more of a backing role to the British pop superstar, which is a shame, considering he is the most followed artist on Spotify. The Indian superstar deserved a stronger presence on the otherwise catchy track. On the positive side, Sapphire may inspire more international artists to incorporate Indian elements into their music. But going forward, any major Indian names involved in global collaborations should insist on equal billing, rather than letting western stars ride on their popularity.

Ed Sheeran and Arijit Singh

Keep ReadingShow less
India vs England: Gill and Jaiswal centuries put India in control

India's Shubman Gill celebrates after reaching his century Action Images via Reuters/Craig Brough

India vs England: Gill and Jaiswal centuries put India in control

CENTURIES from opener Yashasvi Jaiswal and captain Shubman Gill, his first as skipper, fired India to a commanding position in their series opener against England, closing day one of the first test on an imposing 359-3 on Friday (20).

Despite the clear, humid Headingley conditions seemingly favouring the batting side, England chose to bowl first, knowing each of the previous six Leeds tests had been won by the side bowling first.

Keep ReadingShow less
Asian representation Parkinson’s awareness

Organisations like Parkinson’s UK are so vital.

Instagram/ itsmitamistry

Joining the movement: Championing Asian representation and Parkinson’s awareness through sport

Mita Mistry

I recently joined the incredible team at the Asian Sports Foundation. It is an honour to work alongside passionate individuals such as Shazia Ali, Harleen Kaur and Angus Martin. Since it was founded by Jug Johal, the Asian Sports Foundation has worked to transform inactivity into active living, promoting better wellbeing and greater representation of Asian communities in sport and physical activity.

This is a cause close to my heart. The undeniable power of sport and movement to improve both physical and mental health cannot be overstated. It is a message I have consistently championed, alongside a commitment to equity and inclusion, which is why I am so excited to contribute to a charity that truly embodies this ethos.

Keep ReadingShow less
Bollyday

Bollyday has rewritten the rulebook on clubbing – and frankly, it feels long overdue.

Bollyday brings Bollywood sparkle to daytime clubbing and it’s a five-star game-changer

Whoever said you need moonlight to find magic clearly has not stepped onto the spectacular, LED-lit dance floor at this daytime Bollywood bonanza.

From the moment the doors opened at Popworld in London, Bollyday fizzed with the kind of unfiltered joy usually reserved for weddings or late-night parties – except here, you still get home in time for a proper night’s sleep (and Sunday roast prep).

Keep ReadingShow less