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Walmart denies report on potential TikTok investment

Walmart has denied claims from ABC News about its potential interest in investing in TikTok.

The report, shared by ABC News journalist Selina Wang on X, said that Walmart was “actively considering” the investment, citing unnamed sources.

A Walmart spokesperson dismissed the report as inaccurate and said ABC News has since removed the story from its website.

The link to the original article now leads to a “page unavailable” message. ABC News has not commented further.

In 2020, Walmart was also linked to TikTok when it expressed interest in partnering with Microsoft to purchase the app.

TikTok’s parent company, ByteDance, continues to face pressure to divest its US operations, with compliance deadlines recently extended by US authorities.

Recent Walmart developments

Timeline
10-Jun-2024 📈 Walmart eyes PhonePe, Flipkart IPOs in ‘next couple of years’: exec
  • Walmart considers IPOs for Flipkart and PhonePe.
  • PhonePe’s IPO may precede Flipkart’s due to market impact.
19-Jan-2023 💵 Walmart-owned PhonePe raises $350m at $12b valuation
  • PhonePe raises $350M at $12B valuation
  • Funding to enhance UPI, new business verticals
26-Jul-2022 📚 Walmart-backed Flipkart to break into audiobooks market
  • Flipkart partners with Pocket FM for audiobooks.
  • Pocket FM has 15M active listeners, 120K audiobooks sold.
07-Apr-2022 📈 Walmart-owned Flipkart eyes US IPO at up to $70b valuation
  • Flipkart targets IPO valuation of $60-$70 billion
  • Plans US listing in H1 2023, delays due to market factors

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