The American retail giant has announced that it is joining forces with the software company to buy the activities of the social network • The scope of the deal: between 20 and 30 billion dollars

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American retail giant Walmart announced today (Thursday) that it is joining Microsoft in the race to acquire Tiktok. Sources claim that the parent company, BateDance, is approaching an agreement to sell the social network activity in the US, Canada, Australia and New Zealand in a deal that is expected to amount to $ 20-30 billion.

Walmart's announcement joins the other companies that have announced that they are in contact with Tiktok - such as Twitter and Oracle - which appear at the moment that they will not mature into the deal. Estimates are that the retail giant is looking for a way to improve its position vis-à-vis Amazon, as it is perceived as a traditional and even outdated company. On the other hand, the fact that the company has no experience in the field may be a problem.

Walmart told CNBC that "We believe that a partnership with Tiktok and Microsoft will allow us to reach customers through additional channels." Meanwhile, a partnership between the two companies is not new, as in 2018 they collaborated to compete with Amazon when it was decided that Walmart would use Microsoft's cloud solutions to streamline processes and improve the e-commerce experience.

Tonight, Tiktok CEO Kevin Meyer announced his resignation, just three months after taking office. In a letter he wrote to his employees, he explained that the reason for the retirement was "major and radical changes in the political environment." BateDance must maintain trade ties in the United States starting September 15.