Oracle Corporation (NYSE:ORCL) and Walmart Inc (NYSE:WMT) announced over the weekend that they were buying a combined 20% in Tiktok, without which the app would be banned in the U.S. by executive order. Walmart as an investor in a social media app caught my attention, but on second thought, it doesn’t much surprise me.
Facebook, Inc. (NASDAQ:FB) has been implementing seamless shopping into the apps that it owns, especially Instagram. Influencers and online ads populate every corner of the web and work with hundreds of brands. However, influencers and Facebook-brokered ad spaces both require working (and paying) third parties, and Walmart has already solidly built out its online ordering and delivery services to compete with Amazon.com, Inc. (NASDAQ:AMZN).
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Therefore, combining the strength of its digital marketplace with the trend of purchases through social media, it moves from mere advertising to ownership and control. It’ll be interesting to see if other competitors, like Target Corporation (NYSE:TGT), follow suit, and what changes Walmart will bring to the app.
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