- Zoop and HBAR Foundation enter the TikTok bidding war, pushing a creator-first model.
- Amazon’s bid raises stakes as TikTok’s fate hangs on financial and political moves.
- ByteDance faces pressure as U.S. deadline nears, fueling competition for TikTok.
A late-stage bid to acquire TikTok has emerged, led by OnlyFans founder Tim Stokely and the HBAR Foundation. With an April 5 deadline approaching, their proposal aims to reshape content monetization while competing against major tech firms, including Amazon.
Zoop and HBAR Foundation Enter TikTok Acquisition Race
According to a report by Mario Nawfal, Stokely’s startup Zoop and the HBAR Foundation have officially submitted their bid to purchase TikTok. Zoop, a creator-first platform, proposes a revenue-sharing model that is creator-friendly.
Meanwhile, the HBAR Foundation, the governing body of the Hedera cryptocurrency network, supports the bid by leveraging blockchain technology for more transparency in online transactions.
Aside from Zoop’s bid, Amazon has also entered the picture, further spiking competition. ByteDance is under increasing pressure to sell TikTok’s American operation amid national security concerns. The U.S. government, in a step driven by risks of Chinese control, ordered ByteDance to sell or risk banning the app with 170 million American users.
Amazon Joins the High-Stakes Bidding War
Amazon’s involvement signals growing interest from tech giants seeking to capitalize on TikTok’s vast user base. As reported, Vice President JD Vance is overseeing the process, positioning the White House as a central figure in negotiations. Trump, weighing multiple proposals, may extend the deadline if discussions require more time.
Significantly, ByteDance’s major non-Chinese investors are also strategizing to retain U.S. operations. Their plan involves raising stakes to secure control, ensuring TikTok’s presence in the market without violating U.S. security mandates.
Future of TikTok Hinges on Political and Financial Factors
The destiny of TikTok’s tomorrow remains uncertain as April 5 approaches. While major names like Amazon, Oracle, Microsoft, and Rumble are in contention with bids, TikTok supporters aver that banning the platform would be a First Amendment infringement.
Negotiations are proceeding as players consider money viability, regulatory hurdles, and investor opinion. The choice could also hinge on whether the Trump administration issues an extension, deciding the platform’s fate.