By Haleluya Hadero
Reddit co-founder Alexis Ohanian has joined the bid for billionaire Frank McCourt, who will acquire Tiktok as a strategic adviser.
Project Liberty, the internet advocacy organization at McCourt, announced this week that Ohanian, an investor who married tennis star Serena Williams, has joined a consortium called “Tiktok People’s Bids.”
“I’m one of those people who’s officially trying to buy Tiktok Us, and I’m bringing it on-chain,” Ohanian, referring to a decentralized blockchain-based platform that Project Liberty says will provide leverage to provide more control over online data.
Project Liberty said that if the bid is successful, the technology “will serve as the backbone of the redesigned Tiktok, ensuring privacy, security and digital independence are no longer an option, but a foundation.” When asked what to call if he bought Tiktok from an X user on Monday, Ohanian said “Tiktok: Freedom Edition.”
Under the federal bill passed with bipartisan support last year by former President Joe Biden and signed the law, Tiktok had to cut ties with the Chinese-based parent company or face a ban by January 19th.
In one of the first executive orders signed in January, President Donald Trump extended the Tiktok deadline until early April.
The McCourt consortium, which includes shark tanks, includes star Kevin O’Leary – has already provided $20 billion in cash to the US platform. Some analysts estimate that Tiktok is worth more than that without the coveted algorithm.
Trump said in January that Microsoft is one of the US companies seeking control of Tiktok. Those who are paying attention to Tiktok include artificial intelligence startup Perplexity AI. It proposes to combine Tiktok’s US platform with business and provide the US government with funding for new entities. There is also Jesse Tinsley, founder of payroll company Employer.com. Tinsley says the consortium he put together (including the CEO of video game platform Roblox) offers more than $30 billion to Tiktok.
Original issue: March 4, 2025, 6:37pm EST
