The Founder of OnlyFans Wants to Buy TikTok

Tim Stokely, founder of the adult content platform OnlyFans, has submitted an eleventh-hour proposal to buy TikTok’s US operations from its Chinese owner ByteDance. The “intent to bid” was made by Zoop—a social media startup Stokely cofounded with RJ Phillips, who serves as CEO and has a background in influencer marketing strategy—and cryptocurrency company The Hbar Foundation. For Zoop, the bid “represents a David vs. Goliath moment against traditional social media giants by endorsing a creator-first revolution,” according to a statement the company shared with WIRED. They said they want to put power back in the hands of creators through better revenue sharing. ByteDance is up against the clock. If the company does not agree to a proposal from a US buyer by April 5, TikTok will be banned in the US under a law that went into effect in January citing national security concerns. “The process is actually very unique, it’s being run by the White House and not by ByteDance,” Phillips tel ... Read full article.