OnlyFans Founder Bids for TikTok US Operations in Surprise Move
In a surprising turn of events, Tim Stokely, the founder of OnlyFans, has thrown his hat into the ring to acquire TikTok's US operations from its parent company, ByteDance. This unexpected bid comes as the clock ticks down, with a looming deadline set by the US government.
The offer was submitted through Zoop, a social media startup co-founded by Stokely and RJ Phillips. Zoop, in partnership with The Hbar Foundation, a cryptocurrency firm, aims to create a "creator-first revolution," challenging the dominance of traditional social media giants.
Phillips emphasized Zoop's commitment to empowering creators through improved revenue sharing models. With the US government mandating a sale by April 5th to avoid a ban due to national security concerns, ByteDance faces a critical decision.
The Bidding Process and Key Players
RJ Phillips revealed that the bidding process is being overseen by the White House, adding another layer of intrigue to the situation. Details of how Zoop's bid materialized remain confidential. Former President Trump was reportedly scheduled to review multiple offers, with key advisors involved in the decision-making process.
The US government's apprehension regarding TikTok stems from concerns about potential access to American user data by the Chinese government. Zoop's collaboration with Hbar, utilizing the Hedera network – a US-based, secure blockchain technology – could potentially address these security concerns.
A Focus on Creator Empowerment
Stokely and Phillips' interest in acquiring TikTok highlights a desire to reshape the social media landscape. Phillips believes that creators deserve a larger share of ad revenue and that platforms should prioritize their needs over shareholders.
Amidst other contenders, including Amazon, Zoop's bid emphasizes a commitment to building platforms that genuinely support creators. As the deadline approaches, the future of TikTok in the US hangs in the balance, with the Trump administration poised to make a decision that could redefine the social media landscape.
Source: Wired