Reddit co-founder and investor Alexis Ohanian has joined the bid for billionaire Frank McCourt, who will acquire Tiktok as a strategic advisor specializing in social media, Reuters reports.
“I think he has a portfolio of extensive experiences about where social media is and has a keen understanding of where it is evolving,” McCourt told Reuters. “The main place he can help is not only verify what we are doing, but socialize.”
Project Liberty, the Internet advocacy group at McCourt, has organized a consortium called People's Bids to buy Tiktok's US assets. In January, Project Liberty officially submitted a proposal to acquire a social media app, detailing its plans to allow users to control how data is used.
Other stakeholders interested in purchasing Tiktok include a group of investors led by high-tech entrepreneur Jesse Tinsley. Other potential buyers include Microsoft, Oracle, Perplexity AI and former Activision CEO Bobby Kotick.
Tiktok collapsed temporarily in mid-January, but recovered after President Donald Trump pledged to revive the app. After taking office, Trump signed an executive order to extend the deadline for the ban on Tiktok by 75 days.