Oracle and Walmart this week announced a 20% acquisition of a new-formed TikTok Global business. Walmart will take a 7.5% stake in the TikTok Global business.
In the announcement, the companies said that Walmart will bring its omnichannel retail capabilities, including its Walmart.com assortment, eCommerce marketplace, fulfillment, payment, and measurement-as-a-service advertising service. So TikTok and Walmart ad platforms can have synergies between them.
Walmart gets supercharged in the battle against Amazon.com, in e-commerce and online advertising.
In January, Walmart launched an ad platform, reportedly without audiences. TikTok has 100 million active users in the US.
Bloomberg reported ByteDance is looking for a $60 billion valuation. This means Walmart could pay $4.5 billion for the 7.5% stake.