Reddit Co-Founder Joins Bid to Acquire TikTok’s US Operations

Tech entrepreneur and Reddit co-founder Alexis Ohanian has joined Frank McCourt’s bid to acquire TikTok’s U.S. operations as a strategic adviser, according to Reuters. Ohanian, who has a strong background in social media and technology investments, will play a key role in advancing McCourt’s initiative, known as “The People’s Bid.”

McCourt, the former owner of the Los Angeles Dodgers, announced on Monday that Ohanian would be assisting in promoting and validating the bid, per Reuters. Ohanian’s extensive experience in the digital space includes co-founding Reddit while at the University of Virginia, selling it to Conde Nast in 2006, and later returning in 2014 as executive chair to help lead its turnaround. Beyond Reddit, Ohanian has also invested in major tech ventures such as Instacart, Patreon, and OpenSea.

“He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving,” McCourt said, per Reuters. The bid aims to transform TikTok’s U.S. operations by implementing technology that grants users greater control over their personal data. McCourt emphasized that Ohanian’s role will focus on both validating the technological foundation of the bid and helping to communicate its vision to a broader audience.

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McCourt and his partners submitted their bid in early January, just as a critical deadline loomed that could force ByteDance, TikTok’s Chinese parent company, to divest its U.S. assets or face a ban. The platform briefly shut down in the U.S. on January 19 before being restored after then-President-elect Donald Trump announced plans to extend the sale deadline by 75 days and appointed Vice President JD Vance to oversee the process.

McCourt stated that he has provided the White House with comprehensive details regarding his bid, including its financial backing, technological approach, and alignment with national security concerns, per Reuters. However, he noted that ByteDance has yet to engage significantly in the sale process, as it has not appointed a banker, identified specific assets for sale, or established a valuation. McCourt also acknowledged the possibility that ByteDance could choose to shut down TikTok’s U.S. operations rather than sell.

Competition for TikTok’s U.S. assets is intensifying, with several prominent figures and groups expressing interest. Among them is a team led by tech entrepreneur Jesse Tinsley, which includes YouTube personality MrBeast, whose real name is Jimmy Donaldson, and Wyoming businessman Reid Rasner.

As discussions around the future of TikTok’s U.S. presence continue, McCourt’s bid—now with the backing of Ohanian—seeks to present a vision centered on data privacy and user empowerment.

Source: Reuters