HBAR Foundation and OnlyFans founders have jointly submitted a bid to acquire TikTok

According to Reuters, the HBAR Foundation has teamed up with Tim Stokely, founder of the Internet subscription website OnlyFans, to acquire the social media application TikTok. Stokely and the HBAR Foundation submitted an acquisition proposal to the White House last week through Zoop, Stokely's newly established family friendly crowdfunding company. Zoop co-founder RJ Phillips said, "Our acquisition of TikTok is not just about changing ownership, but about creating a new model that allows creators and their communities to directly benefit from the value they create." Phillips said that the partners have been working with a group of investors. He refused to disclose the details of the acquisition or information about the investors who supported the acquisition. According to a previous report by The New York Times, on Wednesday, Amazon also made a last-minute offer to acquire TikTok.