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March 5, 2025 – Alexis Ohanian, co-founder of Reddit and prominent tech investor, has joined billionaire Frank McCourt’s consortium in a bid to acquire TikTok’s U.S. operations.
McCourt’s internet advocacy group, Project Liberty, announced this week that Ohanian will serve as a strategic adviser in “The People’s Bid for TikTok.” The initiative aims to restructure the social media platform using decentralized, blockchain-based technology to enhance user control over personal data.
“I’m officially now one of the people trying to buy TikTok US—and bring it on-chain,” Ohanian posted on X, referring to the blockchain integration that Project Liberty intends to implement. He also suggested renaming the platform “TikTok: Freedom Edition” if the acquisition is successful.
The push to acquire TikTok follows a federal mandate signed into law by former President Joe Biden last year, requiring TikTok’s China-based parent company, ByteDance, to divest its U.S. operations by January 19 or face a nationwide ban. President Donald Trump later extended the deadline to early April.
McCourt’s consortium, which includes Shark Tank investor Kevin O’Leary, has reportedly made a $20 billion cash offer for TikTok’s U.S. division. However, analysts estimate the platform’s value could be significantly higher, even without its proprietary algorithm, which McCourt has stated he is not interested in acquiring.
Other potential buyers have emerged, including Microsoft and AI startup Perplexity AI, which has proposed merging with TikTok’s U.S. operations and offering the U.S. government a stake in the company. Additionally, a separate group led by Jesse Tinsley, CEO of payroll firm Employer.com, and a Roblox executive has reportedly bid over $30 billion for the platform.
As the deadline approaches, the future of TikTok in the U.S. remains uncertain, with multiple high-profile investors vying for control of the popular social media app.
PeakNews Online
