A law passed in the previous session of US Congress requires ByteDance to divest ownership of TikTok or face a potential ban starting on April 5.
Zoop, the social app created by OnlyFans founder Tim Stokely, and the HBAR Foundation have reportedly submitted a bid to purchase the video-sharing app TikTok in the United States.
According to an April 2 Reuters report, the HBAR Foundation and Zoop filed an intent to bid on TikTok with the Trump administration the previous week. The bid will follow others from major technology companies, including Amazon, Oracle, Microsoft, and Rumble, in an attempt to keep the video-sharing app’s services alive for US users.
“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,” Zoop co-founder RJ Phillips reportedly said.
