Zoop, the social platform launched by Tim Stokely, who is known for founding OnlyFans, along with the HBAR Foundation, has reportedly submitted a proposal to acquire the video-sharing platform TikTok in the United States.
As reported by Reuters on April 2, Zoop and the HBAR Foundation submitted an intention to bid on TikTok to the Trump administration the previous week. This bid comes in the wake of interest from other major tech players like Amazon, Oracle, Microsoft, and Rumble, all vying to preserve the app’s services for users in the US.
“Our proposal for TikTok goes beyond mere ownership transfer; it’s about establishing a new model where both creators and their communities are able to reap direct benefits from the value they create,” mentioned RJ Phillips, co-founder of Zoop.
In 2024, a bill was passed by the US Congress and signed into law by former President Joe Biden, which could lead to a TikTok ban if the company’s operations do not become independent from its Chinese parent company, ByteDance. Initially, the deadline for the company’s sale as stipulated by the law was January 19. After taking office, President Trump issued a 75-day extension for enforcement, resulting in a new deadline for the potential sale of TikTok set for April 5.
Attempts to reach the HBAR Foundation and Zoop for comments were unsuccessful at the time of publication.
This is an evolving story, and updates will be provided as more information becomes available.