TikTok Says Good Bye To CEO Mayer & Hello To Walmart?

August 28, 2020

TikTok CEO Kevin Mayer is leaving three months after joining. In the middle of negotiations to sell the Chinese-owned short-form video app’s U.S. operations to Microsoft Corp or Oracle Corp. Could Walmart be coming into play? Yep, Walmart Inc said it was joining Microsoft in a bid for social media’s assets.

The deal would help Walmart reach customers across virtual and physical sales. Growing its online marketplace and advertising business. Shares of Walmart rose 6%. The sale of TikTok is happening as the company is under fire from the Trump administration as a potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers. To Read More Click Here

Source: Reuters

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