Alexis Ohanian, co-founder of Reddit, has joined billionaire Frank McCourt’s effort to acquire TikTok as a strategic adviser.
McCourt’s internet advocacy group, Project Liberty, announced that Ohanian is now part of “The People’s Bid for TikTok,” a consortium aiming to purchase the platform.
“I’m officially now one of the people trying to buy TikTok US—and bring it on-chain,” Ohanian posted on X, referring to a decentralized, blockchain-based system that Project Liberty plans to use to enhance user control over data. If successful, the consortium promises a redesigned TikTok built on principles of privacy, security, and digital independence. When asked what he would rename TikTok, Ohanian replied: “TikTok: Freedom Edition.”
Under a law signed by former President Joe Biden last year, TikTok must separate from its China-based parent company, ByteDance, by January 19 or face a ban. President Donald Trump later extended the deadline to early April.
McCourt’s group—which includes Shark Tank investor Kevin O’Leary—has reportedly offered ByteDance $20 billion in cash for TikTok’s U.S. operations. Other potential buyers include Microsoft, AI startup Perplexity AI, and a consortium led by Jesse Tinsley, CEO of Employer.com, which has offered more than $30 billion.
While TikTok’s actual valuation remains uncertain, McCourt has stated he is uninterested in acquiring its algorithm, a key part of the app’s success.
