The popular short-form video app TikTok, still under U.S. government scrutiny for its Chinese ownership, is moving closer to becoming a marketplace for buying stuff.
Canadian e-commerce platform Shopify said Tuesday it's made a deal with TikTok enabling merchants to create "shoppable" video ads that drive customers to online stores.
The partnership was announced Tuesday amid stalled negotiations for Walmart to buy a 7.5% stake in the video app. Walmart's planned investment is part of a government-forced deal that would rescue TikTok from a threatened ban by President Donald Trump and advance Walmart's ambitions for the world of "social commerce."
"If you're watching a TikTok video and somebody's got a piece of apparel or an item on it that you really like, what if you could just quickly purchase that item?" Walmart CEO Doug McMillon told CNBC earlier this month. "That's what we're seeing happen in countries around the world. And it' More