OnlyFans Founder’s New Startup and Hbar Foundation Submit Bid for TikTok

Tim Stokely, the founder of OnlyFans, has teamed up with the HBAR Foundation to submit a late-stage bid to acquire TikTok, as the social media giant stares down a U.S. deadline to divest or disappear.

The bid was submitted by Stokely’s new venture, Zoop, and the HBAR Foundation, which manages the treasury of the Hedera blockchain, to put forward an offer for TikTok’s U.S. operations, according to Reuters. 

The move positions the pair among a growing crowd of bidders vying for control of the wildly popular app, which has over 170 million American users.

President Donald Trump met with officials on April 2 to discuss proposals for TikTok this week, just days ahead of an April 5 deadline that could see the app banned in the U.S. under a national security law passed last year with bipartisan support.

The legislation, which took effect January 19, requires TikTok’s parent company, ByteDance, to divest the platform or face prohibition due to concerns about potential Chinese government influence. 

Critics argue that Beijing could exploit the app to conduct surveillance or spread disinformation. ByteDance has repeatedly denied the claim.

Trump delayed enforcement of the law until April 5 to give time to reassess the security implications and potentially find a buyer.

Vice President J.D. Vance is reportedly spearheading the effort to find a buyer or lead investor, working with a roster of tech titans, private equity firms, and VC players angling for a piece of the TikTok empire.

Among the other companies that have previously expressed interest in acquiring TikTok are the likes of Microsoft, Walmart, and Oracle. Amazon also submitted a last-minute bid this week. 

In March, Reddit co-founder Alexis Ohanian expressed interest in acquiring the platform with a proposal to integrate TikTok into blockchain infrastructure. Rumors that Elon Musk would take over the platform were dismissed in January as “pure fiction.” 

Edited by Sebastian Sinclair