Reddit co-founder Alexis Ohanian has joined with Frank McCourt and “Shark Tank” star Kevin O’Leary of their bid to accumulate TikTok from its Chinese language guardian firm, ByteDance, the group introduced Monday.
Ohanian, a enterprise capitalist and onetime govt chairman at Reddit, will function a “strategic adviser.” McCourt has referred to his plans to purchase TikTok as “The People’s Bid” and needs to rebuild the app’s algorithm on US soil.
“Alexis Ohanian’s role as Strategic Advisor for Project Liberty and The People’s Bid for TikTok brings invaluable expertise to our initiative,” McCourt mentioned in a press release. “His unique vision and deep personal commitment to user empowerment through social media platforms align perfectly with our transformative approach.”
President Trump has till April 5 to discover a US purchaser for TikTok earlier than his govt order delaying enforcement of a federal ban on the app expires. TikTok briefly went offline in January after ByteDance missed a Jan. 19 deadline to utterly divest.
McCourt has mentioned his bid will fulfill US nationwide safety considerations about TikTok — partially by rebuilding the app on a decentralized blockchain platform dubbed “Frequency” that may enable customers to manage how their information are used and monetized.
Ohanian, who’s married to tennis famous person Serena Williams, cited the group’s plan as a key purpose why he determined to come back aboard.
“I’ve spent my entire career building tech that puts power back in people’s hands — that’s what got me excited about The People’s Bid,” Ohanian mentioned. “This isn’t just about TikTok, it’s about fundamentally rewiring how the internet works.”
McCourt and O’Leary submitted their bid to purchase TikTok in early January and have mentioned they’ve not less than $20 billion in commitments from buyers.
However because the April 5 deadline approaches, it stays unclear if ByteDance — and the Chinese language authorities — will enable a pressured sale to happen.
Apple and Google briefly halted downloads of TikTok in response to Congress’ ban, however later restored entry after receiving assurances from Trump’s US Lawyer Common Pam Bondi that they’d not face penalties.
Trump has reportedly tapped Vice President JD Vance to supervise the potential sale. He has additionally floated the potential of someway extending the sale window, although it’s unclear if he has the authority to take action.
Except for the McCourt-led bid, Trump has recommended that Microsoft and Oracle billionaire Larry Ellison may very well be concerned in a TikTok deal.
X proprietor Elon Musk has mentioned he has no plans to become involved regardless of strategies on the contrary.
Different bidders embrace a gaggle led by tech entrepreneur Jesse Tinsley and YouTube star “MrBeast,” whose actual identify is Jimmy Donaldson.
As The Submit reported final month, a latest nationwide survey confirmed 77% of People are involved about ongoing Chinese language possession of TikTok.
With Submit wires
