TikTok's parent company ByteDance has been granted another week to determine the future course of action, extending its deadline to December 4.
Walmart is teaming up with Oracle to make another bid to acquire TikTok, with a focus on expanding its e-commerce business and competing with Amazon.
Walmart aims to create shopping experiences within the TikTok app by featuring influencers showcasing products available for immediate purchase.
ByteDance is attempting to address security concerns by setting up a separate company for TikTok's U.S. operations, in which Oracle and Walmart would hold stakes.