Walmart CEO says TikTok deal would help make social media more shoppable
KEY POINTS
Walmart CEO Doug McMillon said the retailer wants to own part of popular video app TikTok because it sees social media as a huge business opportunity and a powerful way to reach customers.
The deal, which includes Chinese parent company ByteDance and Oracle, is not yet finalized and must get government approval.
He said the retailer is talking to ByteDance about ways to make “social commerce” easier and more appealing for American customers.
