Faced with a possible ban in the U.S., TikTok is reportedly taking a new look at creating a separate U.S. operation that would include Walmart and Oracle.
According to the New York Post, in response to reported demands from the Biden administration to ByteDance, the Chinese company which owns TikTok, to sell its shares in the popular short video platform or face a ban in the U.S., TikTok is privately exploring options to at least sell off its U.S. business.
Those options may include a deal that would shift partial ownership of TikTok’s U.S. business to Walmart and Oracle, which was initially supported by the Trump administration in 2020
Source: Chain Storeage
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 