Reddit Co-Founder Alexis Ohanian Joins TikTok U.S. Acquisition Bid
Frank McCourt, a businessman and former owner of the Los Angeles Dodgers, announced on Monday that Alexis Ohanian, co-founder of Reddit and a well-known venture capitalist, has joined his efforts to acquire TikTok’s U.S. operations. Ohanian will serve as a strategic adviser, using his expertise in social media to help shape the bid.
Alexis Ohanian is widely recognized for his role in shaping the modern internet. He co-founded Reddit with his college roommate at the University of Virginia and sold the platform to Condé Nast in 2006. He later returned as executive chairman in 2014 to oversee a major turnaround. Over the years, Ohanian has invested in several successful technology companies, including Instacart, Patreon, and OpenSea.
McCourt believes Ohanian’s experience in the tech world makes him a valuable addition to the bid. “He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving,” McCourt told Reuters exclusively.
McCourt’s proposal, called The People’s Bid, is part of his larger Project Liberty initiative, which focuses on giving users greater control over their data. The bid aims to use technology that allows TikTok users to decide how their personal information is shared. McCourt emphasized that Ohanian will play a key role in promoting the bid to both tech experts and the general public.
“Where he can help mostly is validating but also socializing what we're doing,” McCourt explained. “On the one hand, this is a project which has very sophisticated technology at the core, and so you're dealing with a very specific audience when it comes to demonstrating the validity of that technology and in how it works, and why it's necessary. And then you have a totally different constituency, which is basically non-technologists, who are impacted by this technology more than they realize.”
Ohanian has expressed enthusiasm for the project, stating that he wants to help people regain control over their personal data in the digital world.
McCourt and his partners submitted their bid in early January as part of an ongoing effort to secure TikTok’s U.S. assets. The sale process was triggered by a government mandate requiring ByteDance, TikTok’s Chinese parent company, to divest from its U.S. operations or face a ban.
TikTok briefly shut down in the U.S. on January 19, just hours before the ban was set to take effect. However, service was restored after President-elect Donald Trump announced he would allow the app to continue operating. Trump then granted a 75-day extension and assigned Vice President JD Vance to oversee the sale negotiations.
The opportunity to own TikTok’s U.S. business has attracted several high-profile bidders. One competing bid comes from a group led by tech entrepreneur Jesse Tinsley, which includes YouTube star MrBeast, whose real name is Jimmy Donaldson, and Wyoming entrepreneur Reid Rasner.
McCourt has reportedly provided extensive details about his bid to the White House, including information about financing, technology, and national security measures.
Despite the growing interest from U.S. buyers, ByteDance has remained largely unresponsive. McCourt stated that the company has not yet hired a banker, defined the specific assets to be sold, or determined a valuation for TikTok’s U.S. business. He also acknowledged the possibility that ByteDance may choose to shut down TikTok in the U.S. rather than sell it.
With half of America’s population using TikTok, the platform’s future remains uncertain. As McCourt, Ohanian, and other potential buyers push forward with their bids, the final decision will likely come down to how ByteDance and U.S. regulators navigate this complex and highly scrutinized deal.
