TikTok may soon have a new owner.
TikTok is owned by ByteDance, a Chinese internet company.
The move has a lot of people puzzled.
What could Walmart possibly want with a social media platform?
Also owned by ByteDance, Douyin is a video sharing app butalsoan e-commerce destination.
If Walmart does something similar, it could mean big money for the retailer.
Many users are purchasing products advertised via livestream in China, with major profits for retailers.
This year’s expected revenue in China could be as much as $140 billion.
He added, “That’s why I think the Walmart thing is pretty interesting.
They can sell their cheaper products directly to that audience in TikTok.”
“We’ve seen that TikTok is going to be exactly like Douyin,” he said.
“It’s just a little bit slower.
There’s nothing unique to TikTok that was not on Douyin.”
