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Investing.com -- Walmart (NYSE:WMT) is reportedly showing interest in joining a group of investors to purchase the social media platform TikTok, according Selina Wang’s, an ABC reporter, post on X. The retail giant’s interest was sparked by Amazon (NASDAQ:AMZN)’s decision to consider a similar acquisition.
Walmart’s interest in TikTok isn’t new, as the company had previously shown an interest in acquiring the platform in 2020. Recent developments have reignited this interest.
In addition to Walmart and Amazon, other potential investors are reportedly showing interest in TikTok. These include Oracle (NYSE:ORCL) and Applovin, both significant players in the tech industry. Tim Stokely, founder of the adult content platform OnlyFans, has also reportedly made a late-stage bid for the platform.
President Trump is anticipated to sign an executive order to extend the deadline for TikTok to either be sold or banned, which was initially set for tomorrow. This extension could provide more time for potential investors, including Walmart, to solidify their bids for the social media platform.
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