Walmart announced on Thursday that it is joining hands with Microsoft Corporation to bid for TikTok's US operations. The company in its statement said, "We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve omnichannel customers as well as grow our third-party marketplace and advertising businesses,".

"We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of US government regulators.", the American multinational retail corporation further added. This latest development has come on the same day TikTok's Chief Executive Officer (CEO), Kevin Mayer, resigned from his duties. In a letter addressed to TikTok’s employees, he assured that the situation in the US will be resolved by the company "very soon". 

The letter also seemingly indicated as well as confirmed that the global operations of the video-sharing social networking service owned by the Chinese company, ByteDance Ltd, will have to be broken up. US President Donald Trump issued an Executive Order to TikTok on August 14  to divest the company's US operations to an American-based company in 45 days or be banned from carrying out further operations in the country. 

Microsoft has been vying for TikTok's operations before Walmart had come on board for partnership and had said earlier that it is open to collaborating with others. Likewise, Oracle Corporation too has reportedly been bidding for the app over the past few days. With Kevin Mayer stepping down, TikTok’s General Manager Vanessa Pappas has since been named the interim head of the company. 

TikTok has been encountering troubles over some time owing to larger geopolitical issues. The app was earlier banned in India after the Galwan Valley skirmish, which involved Indian and Chinese troops. The Indian government subsequently went on to issue ban orders on 57 other Chinese apps, following up later with a list of 47 more apps from China. The ByteDance-owned TikTok, Helo and Vigo Video were among the apps that have been banned by the Indian government. Among them, TikTok enjoyed a massive subscriber base of over 100 million users in both India and US.