Reddit co-founder Alexis Ohanian joins bid to acquire TikTok’s U.S. operations

Nearly five years after stepping down from Reddit’s board, Alexis Ohanian is making a move that could shake up the social media landscape. The Reddit co-founder has joined the effort to acquire TikTok’s U.S. operations, positioning himself as a key voice in the push to take control of the platform.

On Monday, entrepreneur Frank McCourt announced that Ohanian would serve as a strategic adviser for his bid to buy TikTok’s U.S. assets. Ohanian, who has a deep background in social media and venture capital, is expected to play a central role in shaping the bid.

“McCourt said Ohanian will help promote the Project Liberty bid to buy the U.S. assets of TikTok, which he calls “The People’s Bid,” because of plans to run the app on technology that lets users control how their data will be used and shared,” Reuters reported.

Ohanian co-founded Reddit while at the University of Virginia and later sold it to Condé Nast in 2006. He returned in 2014 as executive chair to help revamp the company. Over the years, he has backed several major tech firms, including Instacart, Patreon, and OpenSea.

“He has that broad portfolio of experience … of where social media was and, I think, a strong understanding of where it’s going,” McCourt said.

McCourt’s proposal, dubbed “The People’s Bid,” aims to run TikTok using technology that gives users more control over their data. He believes Ohanian’s experience will help bring attention to the project.

“Where he can help most is validating and spreading the word about what we’re doing,” McCourt said. “On one side, you have a highly technical aspect that needs to be explained to a specific audience. On the other, you have everyday users who are more affected by these issues than they realize.”

Ohanian said he’s eager to work on the project and wants to give people more control over their personal data.

McCourt and his partners submitted their bid in early January, just as ByteDance faced a deadline to sell TikTok’s U.S. operations or risk a ban. The app briefly shut down in the U.S. on January 19 before restoring service after President-elect Donald Trump said he would keep it running. Trump then granted a 75-day extension and appointed Vice President JD Vance to oversee the sale.

With ownership of TikTok’s U.S. operations up for grabs, several high-profile investors and entrepreneurs have entered the race. Tech entrepreneur Jesse Tinsley is leading another group that includes YouTube star MrBeast (Jimmy Donaldson) and Wyoming investor Reid Rasner.

McCourt has shared detailed information about his proposal with the White House, including how he plans to finance the deal, his approach to the platform’s technology, and his stance on national security concerns.

For now, ByteDance remains largely on the sidelines. According to McCourt, the company has not hired a banker, defined what assets would be sold, or set a price. There’s also the possibility that ByteDance could shut down TikTok in the U.S. rather than sell it.

Ohanian, born in Brooklyn to a German mother and an Armenian father, has been an influential figure in the tech world for nearly two decades. In addition to co-founding Reddit, he helped launch the venture capital firm Initialized Capital, the travel site Hipmunk, and the social enterprise Breadpig. He was also a partner at Y Combinator. In 2012, Forbes called him the “Mayor of the Internet.” His net worth was estimated at $70 million in 2019.