OnlyFans Founder Tim Stokely's New Venture Zoop Bids for TikTok
In a significant move, Tim Stokely, founder of OnlyFans , through his new startup Zoop, in collaboration with the HBAR Foundation , has placed a bid to acquire the popular video-sharing platform TikTok in the United States. This bid comes at a critical time as TikTok faces a potential mandated sale by U.S. legislation which could force its parent company, ByteDance, to divest its holding or face a ban from operating in the U.S. starting April 5.
Zoop's Vision for TikTok
According to Zoop co-founder RJ Phillips , the bid for TikTok is not merely about a change in ownership. Phillips highlighted the goal of transforming TikTok’s operational model to elevate the benefits for creators and their communities. "Our bid for TikTok isn't just about changing ownership; it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate," Phillips explained.
Uncertainty Surrounding Trump's Decision on TikTok's Future
The future of TikTok under the Trump administration remains in limbo. Former President Donald Trump has the ability to sign an extension that would delay the enactment of the legislation requiring TikTok's sale or ban. However, only new legislation from Congress could permanently revoke this mandate, leaving TikTok’s fate uncertain until such actions are taken.
