Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Illustration: AĂŻda Amer/Axios
Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.
The state of play: The idea would be to help turn TikTok U.S. into more of an e-commerce app for creators and users, much like what TikTok parent company ByteDance does with a similar app in China.
- The news was first reported by CNBC, which later said Walmart confirmed its participation.
- The development comes just hours after former Disney executive Kevin Mayer resigned as CEO of TikTok and COO of ByteDance, with sources saying he'd been excluded by ByteDance from the takeover talks.
- There is not yet a signed agreement between Microsoft and ByteDance, as the sides technically have until Sept. 15 to submit a deal proposal to the White House for approval.
- Conversations continue to only center on TikTok's operations in the U.S., Canada, Australia and New Zealand.
Between the lines: It's possible that Walmart also has had discussions with Oracle, which also continues to negotiate with ByteDance.
- SoftBank Group is not involved in the Microsoft/Walmart effort, although the Japanese firm has made inquiries to ByteDance, per sources.
The bottom line: Walmart adds more financial firepower and e-commerce know-how to Microsoft's efforts. But Walmart also has a significant presence in China, which could complicate Microsoft and ByteDance's efforts to get a deal through the Trump administration.