![]() users' data to the Chinese government - an allegation that TikTok denied. He said the popular video app created security concerns because it could hand over U.S. Walmart's pursuit of TikTok began last year, after President Donald Trump pushed TikTok's Beijing-based parent company, ByteDance, to find an American buyer or face a national ban. Still, she said, the app will remain an important media platform for Walmart by "seeding brand awareness and relevance in a generation that will eventually age into their spending power years." By using the app, she said, Walmart is thinking a decade ahead. "They're using TikTok, they're using social media, they're using emerging ad platforms in a way that appreciates a new way to connect to consumers - but owning the capability would give them intimate knowledge of the workings, the architecture, the mechanics of the engine." "Right now, as an outsider, Walmart is an enthusiast," she said. It could even tinker with how the app works to give it a leg up or box out other retailers, she said. It could gather more data about how to make its ad campaigns or videos more potent. As a partial owner of TikTok, Walmart could pop the hood and better understand the powerful social media app. She compared it to being an auto mechanic versus an enthusiast. Jefferies analyst Steph Wissink said a stake in TikTok would give Walmart an edge over competitors that also use the social media app. She said having events like that "creates more really interesting places for us to be able to work with brands." That's taken on added importance as the retailer aims to grow its advertising business by more than 10 times in the next five years and better compete in that industry with Amazon. "Expect more things like that from us over the coming days, weeks, months." "We were really excited by what we saw and the engagement by customers and the experience," Walmart's chief customer officer, Janey Whiteside, said in a recent interview, when talking about the livestream TikTok event. Those efforts are likely to continue - even if Walmart doesn't have a front-row seat. It had a one-hour livestream event on the app in December. Walmart buyers consulted TikTok as they decided which toys to order for the holiday season. ![]() Walmart is one of many retailers that have looked to the popular app as a way to follow trends, create shoppable content, and strengthen its brand among teens and 20-somethings. ![]() She said it continues to evaluate potential risks to U.S. Oracle did not respond to CNBC's request for comment.Īt a White House news briefing Wednesday, press secretary Jen Psaki said the administration hasn't taken any new actions on the TikTok deal. Walmart spokesman Randy Hargrove declined to comment on Wednesday's report and referred questions about a potential TikTok sale to the Biden administration. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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