The popular video-sharing app TikTok has been making headlines recently as various companies and organizations have been vying to purchase it. The latest contenders in this race are the HBAR Foundation and Zoop, a social app created by OnlyFans founder Tim Stokely.

According to a recent report by Reuters, the HBAR Foundation and Zoop have submitted a bid to purchase TikTok in the United States. This bid comes after other major technology companies, such as Amazon, Oracle, Microsoft, and Rumble, have also expressed interest in acquiring the app.

The bid from the HBAR Foundation and Zoop is not just about changing ownership, but also about creating a new paradigm where both creators and their communities can directly benefit from the value they generate. This aligns with Zoop co-founder RJ Phillips’ statement that “Our bid for TikTok isn’t just about changing ownership, it’s about creating a new paradigm where both creators and their communities benefit directly from the value they generate.”

The potential sale of TikTok has been a hot topic since 2024 when the US Congress passed a bill that could potentially ban the app if it wasn’t separated from its Chinese parent company, ByteDance. The initial deadline for the sale was Jan. 19, but President Donald Trump signed a 75-day extension, pushing the potential sale until April 5.

The HBAR Foundation and Zoop’s bid is a late-stage one, and it remains to be seen if it will be successful. Cointelegraph reached out to both parties for comment but did not receive a response at the time of publication.

This is a developing story, and more information will be added as it becomes available. Stay tuned for updates on the potential sale of TikTok and its impact on the social media landscape.