OnlyFans Founder Bids to Acquire TikTok Amid US Sale Deadline

Tim Stokely, founder of OnlyFans, bids to acquire TikTok's US operations, partnering with Zoop and The Hbar Foundation. This move aims to empower creators with better revenue-sharing models as TikTok faces a sale deadline due to national security concerns. The acquisition process, led by the White House, could reshape the social media landscape if successful.

In a surprising twist in the ongoing saga of TikTok's potential sale, Tim Stokely, the founder of OnlyFans, has made a bold move to acquire the US operations of the popular video-sharing app. Partnering with Zoop, a social media startup he co-founded with RJ Phillips, and The Hbar Foundation, a cryptocurrency company, Stokely aims to take control of TikTok from its Chinese owner, ByteDance. This bid comes at a critical time, as TikTok faces a looming deadline to sell its US operations or face a ban due to national security concerns.

Zoop's bid is not just a business maneuver but a statement against traditional social media giants. The company aims to revolutionize the industry by prioritizing creators and offering better revenue-sharing models. This approach aligns with Zoop's mission to empower creators, ensuring they receive a fair share of the ad revenue generated by their content. RJ Phillips, CEO of Zoop, emphasizes that their platform seeks to be a facilitator for creators, putting their needs above those of shareholders.

The acquisition process is unique, as it is being overseen by the White House rather than ByteDance. President Donald Trump, along with Vice President JD Vance and US Secretary of Commerce Howard Lutnick, are at the helm of the decision-making process. The administration's concerns revolve around the potential for the Chinese government to access American users' data through TikTok.

While Zoop's bid is a significant contender, Amazon has also entered the fray with a last-minute offer. However, according to reports, Amazon's bid is not being taken seriously. Other potential deals include a consortium of US investors, such as Oracle and Blackstone, who might purchase TikTok while ByteDance retains ownership of its algorithm.

The involvement of The Hbar Foundation could be a strategic advantage for Zoop. The foundation operates the Hedera network, a US-based blockchain technology that promises security and transparency. This could address some of the national security concerns associated with TikTok's Chinese ownership.

As the deadline approaches, the tech world watches closely to see if the Trump administration will align with Zoop's vision of a creator-first platform. If successful, this acquisition could reshape the social media landscape, offering a more equitable model for content creators and users alike.