Alexis Ohanian Joins TikTok Bid with Frank McCourt

Alexis Ohanian Joins Bid to Acquire TikTok

Alexis Ohanian, a co-founder of Reddit and prominent investor, has become a strategic advisor to billionaire Frank McCourt in the effort to purchase TikTok. His expertise lies specifically within the realm of social media platforms.

Ohanian announced his involvement via a post on X (formerly Twitter) on Tuesday, stating a desire to acquire TikTok’s U.S. operations and advocating for a blockchain-based approach. He expressed his intent with the statement, “Looking to buy TikTok US. Bring it on chain. It is time.”

Proposed "Freedom Edition"

Further elaborating on his vision, Ohanian suggested a potential rebranding of the application should his bid succeed. He indicated he would rename it “TikTok: Freedom Edition.”

The People’s Bid Consortium

Frank McCourt’s advocacy organization, Project Liberty, is spearheading a consortium known as The People’s Bid. This group is focused on acquiring TikTok’s U.S. assets.

In January, Project Liberty formally presented a proposal outlining their plans for the acquisition. A key component of their strategy involves granting users greater control over the utilization and storage of their personal data.

Other Potential Buyers

Several other entities have also expressed interest in purchasing TikTok. These include a group of investors headed by tech entrepreneur Jesse Tinsley.

Additional companies considering a bid are Microsoft, Oracle, Perplexity AI, and Bobby Kotick, the former CEO of Activision.

Previous Disruptions and Government Involvement

TikTok experienced a brief service outage in mid-January. However, functionality was restored following a commitment from former President Donald Trump to revisit the app’s status.

Subsequently, President Trump issued an executive order extending the potential ban on TikTok by an additional 75 days.

Update 03/03/2024: This article has been updated to reflect Ohanian’s recent announcement regarding his participation in the acquisition bid.