Microsoft is working on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.
Behind the scenes: The idea would be to helpturn TikTok U.S. into more of an e-commerce app for creators and users, much like what current parent company ByteDance does with a similar app in China.
- It's possible that Walmart also has had discussions with Oracle, which also continues to negotiate with ByteDance.
- SoftBank Group is not involved in the Microsoft/Walmart effort, although the firm has made inquiries to ByteDance, per sources.
