“At a time when the coronavirus has sent record numbers of consumers online instead of to the mall, livestreaming is filling the social vacuum. There’s no better example of the trend’s proliferation than Walmart and TikTok, which on Thursday (Dec. 17) announced a “first of its kind” event scheduled for Friday, Dec. 18 at 8 p.m. EST on the Walmart profile page on TikTok. At that time 10 TikTok creators, including Michael Le (@justmaiko), a dancer with 43 million followers, and other creators will participate in a one hour shoppable variety show, called the ‘Holiday Shop-Along Spectacular.’”
– “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.”
- “Microsoft Corp., Walmart Inc. and Oracle Corp. have all expressed interest in the breakout app, the success of which rests on addictive video feeds powered by ByteDance’s AI-driven content-recommendation engine.
- China announced new restrictions on artificial-intelligence technology exports that could further complicate the sale of TikTok’s U.S. operations, while intensifying the tech battle between the world’s two largest economies.”
“While only a small portion of ecommerce sales come from social channels, consumer adoption has grown in the past year. We expect that more than 75 million US social network users ages 14 and older will make at least one purchase from a social channel in 2020, up 17.3% from 2019.”
- “Last year for the first time ever, the U.S. share of global artificial intelligence startup funding deals fell to less than half the world’s total.
- The U.S. was home to nearly 75% of all deals in 2013, data shows, but is fast losing share in the startup market — a key driver of innovation.
- The total amount of funding is still tilted heavily toward the U.S. — with the exception of a handful of Chinese mega-companies like TikTok owner ByteDance, which is the top-funded AI startup in the world. The U.S. funding lead is likely to continue because of its concentration of AI experts.”