Walmart considering purchase of TikTok: ABC News [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
Friday extended the April 5 deadline for Chinese company ByteDance to find a buyer for the app or be banned in the U.S., adding 75 days to create a new deadline in June, Selina Wang of ABC News reports. The timing of Walmart's possible move is interesting, as it comes quickly after Amazon , a company that's upended the retail industry, made a bid of its own. As Capital One details , Amazon is now the world's second-largest retailer, trailing only Walmart, which has pumped up its own e-commerce business to battle back against the tech giant. Given that competition, it's possible that the Arkansas-based chain of stores sees an Amazon-TikTok merger as a threat to their top-dog status. Walmart previously considered teaming up with Microsoft to buy TikTok back in 2020. “The app would give the retail giant access to hundreds of millions of consumers who could become their customers and audiences for their advertisements, in a boost to their e-commerce business,” Wang explained. It
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AMZN
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AMZN
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