– “Along with the 7.5% stake in TikTok Global, Walmart will provide “ecommerce, fulfillment, payments and other omnichannel services to TikTok Global.”
– Walmart CEO Doug McMillon will be one of the five board members of the newly created company.
– The plan is to bring TikTok public in the US “within the next year.”
– The move to make TikTok’s US operations independent will create 25,000 jobs.
TikTok Global will pay more than $5 billion in taxes to the US Treasury.”