On Monday, Frank McCourt announced that Alexis Ohanian, co-founder of Reddit and a venture capitalist, has joined his efforts to acquire TikTok’s operations in the United States as a strategic adviser with a focus on social media.
Ohanian is recognized as a pioneer in the tech industry, having co-founded Reddit with his college roommate from the University of Virginia. After selling the platform to Conde Nast in 2006, he returned in 2014 to serve as executive chairman, leading a successful turnaround. He has also invested in various tech companies, such as Instacart, Patreon, and OpenSea.
“He possesses a diverse range of experiences that give him insight into the evolution of social media,” McCourt stated.
Ohanian will assist in promoting Project Liberty, a bid that aims to acquire TikTok’s US assets. McCourt refers to this initiative as “The People’s Bid,” highlighting its intention to enable users to have control over their personal data and its usage.
“Ohanian’s primary contribution will be validating and communicating our objectives,” McCourt explained. “This venture is built on sophisticated technology, and it’s vital to demonstrate its credibility to a tech-savvy audience while also reaching out to non-technologists who may not fully grasp the impact of this technology.”
Ohanian expressed his enthusiasm for the project, emphasizing the importance of empowering individuals regarding their data privacy.
Earlier in January, McCourt, a former owner of the Los Angeles Dodgers, and his partners submitted a bid for TikTok as a deadline loomed for ByteDance to sell the app to a US buyer or face a ban due to escalating regulatory pressure.
The app briefly suspended operations in the US just hours before a potential ban on January 19, but service resumed following remarks from President-elect Donald Trump, who indicated he would facilitate the app’s continued accessibility.
Trump subsequently delayed the ban for 75 days, appointing Vice President JD Vance to oversee the sale process.
The opportunity to potentially acquire one of the world’s most popular video-sharing platforms, or at least its US user base, has attracted a diverse array of bidders from finance, technology, and entertainment sectors.
Among the other interested parties is a group of investors led by tech entrepreneur Jesse Tinsley, which includes YouTube star MrBeast (Jimmy Donaldson) and Wyoming entrepreneur Reid Rasner.
McCourt noted that he has provided the White House with comprehensive details regarding his TikTok bid, including financial information and a framework for addressing technology and national security concerns.
He stated that TikTok’s parent company, ByteDance, is only “lightly” involved in the sale process. They have not secured a banker or determined a specific set of assets to sell, nor established a valuation. McCourt mentioned the possibility that ByteDance may opt to shut down the widely-used app, rather than proceed with a sale.
© Thomson Reuters 2025
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
