Reddit co-founder Alexis Ohanian wants to buy TikTok
What's the story
Reddit co-founder and prominent venture capitalist Alexis Ohanian has joined billionaire entrepreneur Frank McCourt's bid to acquire TikTok's US operations. Ohanian will be a strategic adviser with a focus on social media. McCourt announced the development today, highlighting Ohanian's vast experience in the field. "He has that broad portfolio of experience ... of where social media was and, I think, a keen understanding of where it's evolving," McCourt said.
Strategic involvement
Ohanian's role in Project Liberty bid
Ohanian's main job will be to push the Project Liberty bid for TikTok's US assets, which McCourt calls "The People's Bid." The project intends to run the app on tech that puts users in charge of how they use and share their data. "Where he can help mostly is validating but also socializing what we're doing," McCourt said. He emphasized the project's sophisticated tech and its effect on non-technologists who don't realize its importance.
Commitment
Ohanian's enthusiasm for data control project
Ohanian said he was excited about the project and its potential to give users more control over their data. McCourt and his partners bid for TikTok in early-January, ahead of a deadline that would force ByteDance to sell the app to a US buyer or face a ban. The app briefly shut down in the US before President Donald Trump intervened, granting a 75-day delay on enforcing the ban.
Bidding process
TikTok bid attracts diverse interest
The possibility of buying one of the world's most famous video-sharing platforms has drawn a wide array of bidders from finance, tech, and entertainment industries. Other bidders include a group headed by tech entrepreneur Jesse Tinsley, which includes YouTube personality MrBeast, and Wyoming entrepreneur Reid Rasner. McCourt has provided the White House with a lot of information about his TikTok bid, including financing details, approach to technology, and national security considerations.