Summary:
Tim Stokely, founder of OnlyFans, partners with HBAR Foundation to bid for TikTok.
The bid comes as the U.S. imposes a divest-or-ban deadline on TikTok.
Perplexity AI advocates for a takeover, eyeing an $18 billion valuation.
Former President Trump discusses TikTok's future amid national security concerns.
Alexis Ohanian proposes to bring TikTok on-chain in his bid.
OnlyFans Founder Teams Up with HBAR Foundation
Tim Stokely, the founder of OnlyFans, has formed a partnership with the HBAR Foundation to submit a late-stage bid for TikTok, as the deadline for a potential U.S. divestiture looms. This move positions them among a growing number of bidders for the wildly popular app, which boasts over 170 million American users.
A Strategic Bid Amidst Growing Competition
The bid is being presented by Stokely’s new venture, Zoop, alongside the HBAR Foundation, which manages the treasury of the Hedera blockchain. Their entry into the bidding process represents a significant development in the ongoing saga of TikTok’s future in the U.S.
Perplexity AI and Other Contenders
In addition to Stokely and HBAR, Perplexity AI has made headlines advocating for the acquisition of TikTok, aiming for a valuation of $18 billion. With the April 5 deadline approaching, Perplexity argues that it is uniquely positioned to take over TikTok, especially before a potential presidential order banning the Chinese-owned platform.
Political Pressure and Legislative Context
Former President Donald Trump met with officials on April 2 to discuss TikTok, as the platform faces a national security law that requires ByteDance, TikTok's parent company, to divest its U.S. operations or face a ban. Critics fear that TikTok could be exploited for surveillance or disinformation by the Chinese government, a claim that ByteDance has denied.
Additional Bidders and Interest
Alexis Ohanian, co-founder of Reddit, is also in the fray, proposing to integrate TikTok into blockchain infrastructure. Other notable bidders include Microsoft, Walmart, Oracle, and even Amazon, which submitted a last-minute bid. Vice President J.D. Vance is reportedly leading the charge to find a suitable buyer or lead investor, amidst a highly competitive landscape.
Conclusion
As the April 5 deadline nears, the race for TikTok intensifies, with various tech giants and innovative startups vying for control of the immensely popular platform. The outcome could reshape the social media landscape significantly.
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