Platform
Amazon, OnlyFans Founder Join TikTok Bid As Deadline Looms
Amazon and a consortium led by OnlyFans founder Tim Stokely have emerged as the latest potential owners of TikTok as the April 5 deadline approaches. The popular short-video platform must secure a non-Chinese buyer to avoid a ban in the United States.
U.S. officials cite security concerns regarding the app’s ties to China, which both TikTok and parent company ByteDance consistently deny.
As Reuters reports, Trump administration officials held a meeting at the White House on Wednesday to discuss various options for the platform’s future.
The New Bidders
Stokely, who founded adult content platform OnlyFans, now leads startup Zoop. The company has partnered with a cryptocurrency foundation to submit a late-stage bid for TikTok, representatives confirmed to Reuters.
A U.S. administration official verified that Amazon sent a letter to Vice President JD Vance and Commerce Secretary Howard Lutnick regarding its interest. Amazon’s shares rose approximately 2% following news of its bid.
The e-commerce giant has previously shown social media ambitions, acquiring live streaming platform Twitch in 2014 for nearly $1 billion and book review site Goodreads in 2013. The company also recently tested and shuttered Inspire, a TikTok-like short-form video and photo feed.
Bids and Regulation
Other potential buyers include a group of ByteDance’s non-Chinese shareholders led by Susquehanna International Group and General Atlantic, with private equity firm Blackstone discussing joining their effort. Additionally, U.S. venture capital firm Andreessen Horowitz is in talks to support a bid led by Oracle.
Reuters reiterates that any deal would need to reduce Chinese ownership below the 20% threshold required by U.S. law.