TikTok Sale Might Be Coming In A Matter Of Days – And A New Buyer Has Emerged

After weeks of legal drama and insider gossip, TikTok might finally announce a buyer in the next few days. Sources close to the situation say that the popular video-sharing app company is close to making a deal and could make the announcement very soon.

Whoever emerges as the new owner of TikTok’s U.S., Canadian, Australian, and New Zealand business, the company is said to be looking for a sale price of around $20-30 million, but an exact price hasn’t been set yet.

Meanwhile, another major name has entered the fray to bid for the company: Walmart.

After early reports revealed the company’s involvement, the big box chain confirmed its involvement and announced that it was partnering with Microsoft, the first company that was reported to be pursuing the purchase.

Walmart and Microsoft’s unorthodox partnership appears to clear up certain issues that would have hampered Walmart if it went after TikTok on its own. The sources close to the matter initially called Walmart’s bid dead in the water since the company lacked any cloud-computing systems, a requirement for the acquisition set by U.S. regulators.

“We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses,” the company said in a statement. “We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators.”

Additionally, cloud computing giant Oracle has reportedly been pursuing a bid for TikTok. It is unclear at this time which players in the negotiations are closest to sealing the deal.

Despite nearing a deal that would separate the company from its controversial Chinese owners, TikTok has also taken the Trump administration to court over its executive order with a lawsuit earlier this month.

The order called for TikTok to be banned in the U.S. if it could not be sold off by Beijing’s ByteDance to an American company. The lawsuit accused the order of depriving TikTok of its right to due process.