On Monday, Frank McCourt revealed that Alexis Ohanian, co-founder of Reddit and a venture capitalist, has joined his initiative to purchase TikTok’s operations in the United States, serving as a strategic adviser with expertise in social media.
Ohanian, an early internet innovator, launched Reddit alongside his University of Virginia roommate. After selling the platform to Conde Nast in 2006, he returned in 2014 as executive chair to spearhead its revitalization. His investment portfolio includes stakes in several tech firms such as Instacart, Patreon, and OpenSea.
“He possesses a vast array of experience… a deep understanding of the evolution of social media,” McCourt stated.
McCourt explained that Ohanian’s role will be instrumental in advancing the Project Liberty endeavor to acquire TikTok’s U.S. assets, which McCourt refers to as “The People’s Bid.” This initiative aims to run the app on technology that provides users with greater control over their data usage and sharing.
“His contribution will primarily involve validating and promoting what we’re doing,” McCourt noted. “This project has complex technology at its foundation, targeting a very specific audience that needs to grasp the credibility and necessity of the technology.”
“In contrast, there’s a broader audience of non-technologists who are also affected by this technology, often without realizing it,” he added.
Ohanian expressed enthusiasm for taking part in the project and empowering users with more control over their personal data.
The former owner of the Los Angeles Dodgers and his associates submitted their bid for TikTok in early January, coinciding with an impending deadline that could compel ByteDance to sell the app to a U.S. owner or confront a ban.
On January 19, the app briefly ceased operations in the U.S. just before the ban was expected to take effect, but service was resumed following President-elect Donald Trump’s indication of plans to restore access.
Trump subsequently granted a 75-day reprieve on the ban and assigned Vice President JD Vance to oversee the sale process.
The potential of acquiring one of the world’s most prominent video-sharing platforms, or at least its U.S. user base, has attracted a growing roster of interested parties across finance, technology, and entertainment sectors.
Other bidders include a consortium led by tech entrepreneur Jesse Tinsley, which features YouTube star MrBeast, also known as Jimmy Donaldson, and Wyoming entrepreneur Reid Rasner.
McCourt indicated that he has provided comprehensive details about his TikTok bid to the White House, including information regarding financing, technological strategies, and how his proposal addresses national security concerns.
He remarked that TikTok’s Chinese parent company, ByteDance, is only “lightly” involved in the proceedings. They have not engaged a banker, nor have they outlined which assets may be for sale, making it unclear if a valuation has been established. McCourt noted that there is a chance ByteDance might opt to shut down the widely-used short-video app favored by half of the American population instead of proceeding with a sale.
© Thomson Reuters 2025
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