Almost five years after resigning from Reddit’s board of directors, Alexis Ohanian is making moves that could shake up the social media situation. The Reddit co-founder has joined Tiktok’s efforts to win US operations and positioned himself as a key voice in the push to control the platform.
On Monday, entrepreneur Frank McCourt announced that Ohanian will serve as a strategic adviser to his bid to buy Tiktok’s US assets. With a deep background in social media and venture capital, Ohanian is expected to play a central role in shaping bids.
“McCourt said it will help Ohanians accelerate Project Liberty bids, which will buy Tiktok’s US assets called “people bids” because of plans to run an app on technology that allows users to control how data is used and shared,” Reuters reported.
Ohanian co-founded it at the University of Virginia and later sold it to Condé Nast in 2006. Over the years he has supported several major tech companies, including Instacart, Patreon and Opensea.
“I think he has a wide portfolio of experiences about where social media was and he has a strong understanding of where it is heading,” McCourt said.
The McCourt proposal, called “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 him draw attention to the project.
“The place he can help the most is to examine and spread the word about what we’re doing,” McCourt said. “On the one hand, there are very technical aspects that need to be explained to a particular audience. On the other hand, there are more users who are affected by these issues than they know.”
Ohanian said he is keen to work on the project and wants to give people more control over their personal data.
McCourt and his partner submitted their bids in early January. This filed their bids in the same way that they faced a deadline to sell Tiktok’s US business or risk banning. The app temporarily shut down in the US on January 19th after President Donald Trump said he would continue to do it. Trump then granted the extension of 75 days and appointed Vice President J.D. Vance to oversee the sale.
With Tiktok’s US business ownership, several well-known investors and entrepreneurs took part in the race. Tech entrepreneur Jesse Tinsley leads another group, including YouTube star Mrbeast (Jimmy Donaldson) and Wyoming investor Reid Rasner.
McCourt shares detailed information about his proposal with the White House. These include how transactions are funded, the platform’s approach to technology, and a stance on national security concerns.
For now, bytedance remains primarily on the bystanders. According to McCourt, the company does not employ bankers and defines which assets are sold or priced. It is also possible that Baitedan could shut down Tiktok rather than selling Tiktok.
Born in Brooklyn to a German mother and an Armenian father, Ohanian has been an influential figure in the world of technology for nearly 20 years. In addition to co-founding Reddit, he helped launch the venture capital firm’s initialized capital, travel site Hipmunk, and Social Enterprise Breadpig. He was also a partner at Y Combinator. In 2012, Forbes called him the “Internet Mayor.” His net worth was estimated at $70 million in 2019.
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