‘Walmart’s TikTok interest is $30bn worth of evidence that retail has changed forever’

By George MacDonald2020-08-28T14:25:00

If ever something deserved an exclamation mark, it was the news that retail powerhouse Walmart hopes to snap up video-sharing social media network TikTok in a deal worth as much as $30bn.

This statement stands, even though Walmart has been no stranger to breaking out its cheque book in the past. After all, it was prepared to splash out $3.3bn on Jet.com a few years back and is currently seeking to take on Amazon with its own Prime-style subscription service.

Yet a TikTok takeover, staged jointly with tech giant Microsoft, would be in another league and highlights just how radically the retail industry is being reshaped.

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