Zoop, founded by the OnlyFans founder, collaborates with the Hedera network to bid for TikTok.

Gate.io News bot message, Reuters reports that Zoop, a startup founded by OnlyFans founder Tim Stokely, has submitted a letter of intent to the White House for the acquisition of TikTok. Zoop has partnered with the Hbar Foundation, becoming one of the bidders ahead of the deadline faced by ByteDance.

Zoop has promised in its proposal to allocate most of its revenue to content creators and is currently negotiating collaboration with several investors, with specific details yet to be disclosed. The New York Times also reported that Amazon has submitted a letter of intent for acquisition.

According to U.S. law, ByteDance must complete the sale or exit of TikTok from the U.S. market by April 5, as the bill officially takes effect in January 2024 based on national security considerations.