The Founder of OnlyFans Wants to Buy TikTok
Tim Stokely, founder of OnlyFans, has teamed up with a cryptocurrency company to submit a last-minute bid to acquire TikTok’s US operations. This move comes as TikTok faces a deadline to either sell or face a ban in the US, with other companies like Amazon also in the mix.
Key Points
- Stokely’s bid is backed by Zoop, a social media startup, and The Hbar Foundation, which works on blockchain technologies.
- This proposal is seen as a challenge to larger social media companies, focusing on better revenue sharing for content creators.
- ByteDance, the parent company of TikTok, must accept a US buyer’s proposal by April 5 to avoid a ban under national security laws.
- The US government concerns revolve around data security and potential access by the Chinese government.
- Stokely aims to prioritise creators over shareholders, advocating for a fair distribution of advertising revenue.
Why should I read this?
This article highlights a significant shift in the social media landscape, as it uncovers how smaller companies like Zoop are stepping up to challenge giants like TikTok and Amazon. The implications of such a bid could reshape content creation and monetisation strategies, making it a must-read for anyone interested in the future of social media.
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