Reddit co-founder Alexis Ohanian joins Frank McCourt’s bid for TikTok’s US operations
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Venture capitalist and Reddit co-founder Alexis Ohanian has joined Frank McCourt’s effort to acquire TikTok’s US operations as a strategic adviser, bringing his expertise in social media and technology to the bid.
McCourt, a businessman and former owner of the Los Angeles Dodgers, announced on Monday that Ohanian will play a key role in advocating for Project Liberty, a proposal to acquire and restructure TikTok’s US assets under a model that prioritises user data control. Dubbed The People’s Bid, the initiative aims to give users more say in how their data is handled and shared.
“He has a deep understanding of social media’s past and where it is headed,” McCourt said, highlighting Ohanian’s experience as a pioneer in the industry.
Ohanian, who co-founded Reddit in 2005 before selling it to Condé Nast and later returning as executive chair in 2014, has also invested in major tech startups like Instacart, Patreon, and OpenSea. He expressed enthusiasm about the project, emphasising the importance of giving users greater control over their digital presence.
McCourt and his team submitted their bid for TikTok’s US operations in early January as the deadline for ByteDance, TikTok’s Chinese parent company, to sell or face a potential ban loomed closer. Former President Donald Trump had previously ordered TikTok to be sold, but later granted a 75-day extension, delegating oversight of the sale process to Vice President JD Vance.
Several high-profile groups have expressed interest in acquiring TikTok’s US assets, including an investor group led by tech entrepreneur Jesse Tinsley, which features YouTube sensation MrBeast (Jimmy Donaldson) and Wyoming businessman Reid Rasner.
Despite the growing number of potential buyers, McCourt noted that ByteDance has yet to fully engage in the sale process. The company has not retained a financial advisor, determined the specific assets it would sell, or set a valuation for the platform’s US operations. There is even speculation that ByteDance may choose to shut down TikTok in the US rather than sell it.
McCourt has submitted extensive documentation to the White House detailing his bid, including its financial structure, technological approach, and how it addresses national security concerns.