Walmart & Microsoft Bid For TikTok

TikTok logo

CBJ — Chinese social media upstart TikTok has been forced to navigate very choppy waters in the United States and now comes word its CEO has stepped down.

Much of the problem for the fledgling company is that the U.S. government has been threatening to ban it. American President Donald Trump and other members of the federal government are concerned by the potential national security risks posed by the company due to the huge amount of private data the app is compiling on U.S. consumers.  The biggest concern is that the information could make its way back to the Chinese State government.

Now comes word that Walmart is looking to join Microsoft in making a dual bid to acquire TikTok’s U.S. assets, although there is no defined word on what type of bid they are considering.

Kevin Mayer spent barely three months with TikTok as its chief executive before coming to the conclusion it wasn’t the right fit for him. He came onboard after a successful career at Disney.

@CanBizJournal

 

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