As the future of TikTok hangs in the balance, a new, surprising name emerged Thursday wanting to be part of the next chapter for the social media phenomenon.
Walmart – the worlds largest retailer - said it was joining Microsoft in a bid for TikTok's U.S. assets, citing the app’s e-commerce potential.
U.S. President Donald Trump has demanded that TikTok's Chinese owner ByteDance sell its U.S. operations, citing a potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.
Sources tell Reuters ByteDance has held talks with companies including Microsoft and Oracle to sell TikTok's North American, Australian and New Zealand operations in a deal that could be worth $25 billion to $30 billion
News of Walmart's interest comes hours after TikTok's chief executive, Kevin Mayer, said he would step down.
Walmart shares surged 4 percent on the news.