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 parent company, ByteDance, the group announced Monday.
Ohanian, a enterprise capitalist and onetime executive chairman at Reddit, will function a “strategic adviser.” McCourt has referred to his plans to purchase TikTok as “The People’s Bid” and desires 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 said 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 until April 5 to search out a US buyer for TikTok before his executive 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 completely divest.
McCourt has said his bid will satisfy US national security concerns about TikTok — partly by rebuilding the app on a decentralized blockchain platform dubbed “Frequency” that can allow users to manage how their data are used and monetized.
Ohanian, who’s married to tennis superstar Serena Williams, cited the group’s plan as a key reason why he decided to return aboard.
“I’ve spent my entire profession constructing tech that puts power back in people’s hands — that’s what got me enthusiastic about The People’s Bid,” Ohanian said. “This isn’t nearly TikTok, it’s about fundamentally rewiring how the web works.”
McCourt and O’Leary submitted their bid to purchase TikTok in early January and have said they’ve no less than $20 billion in commitments from investors.
But because the April 5 deadline approaches, it stays unclear if ByteDance — and the Chinese government — will allow a forced sale to occur.
Apple and Google briefly halted downloads of TikTok in response to Congress’ ban, but later restored access after receiving assurances from Trump’s US Attorney General Pam Bondi that they might not face penalties.
Trump has reportedly tapped Vice President JD Vance to oversee the potential sale. He has also floated the potential for someway extending the sale window, though it’s unclear if he has the authority to accomplish that.
Apart from the McCourt-led bid, Trump has suggested that Microsoft and Oracle billionaire Larry Ellison may very well be involved in a TikTok deal.
X owner Elon Musk has said he has no plans to get entangled despite suggestions on the contrary.
Other bidders include a gaggle led by tech entrepreneur Jesse Tinsley and YouTube star “MrBeast,” whose real name is Jimmy Donaldson.
As The Post reported last month, a recent national survey showed 77% of Americans are concerned about ongoing Chinese ownership of TikTok.
With Post wires
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 parent company, ByteDance, the group announced Monday.
Ohanian, a enterprise capitalist and onetime executive chairman at Reddit, will function a “strategic adviser.” McCourt has referred to his plans to purchase TikTok as “The People’s Bid” and desires 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 said 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 until April 5 to search out a US buyer for TikTok before his executive 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 completely divest.
McCourt has said his bid will satisfy US national security concerns about TikTok — partly by rebuilding the app on a decentralized blockchain platform dubbed “Frequency” that can allow users to manage how their data are used and monetized.
Ohanian, who’s married to tennis superstar Serena Williams, cited the group’s plan as a key reason why he decided to return aboard.
“I’ve spent my entire profession constructing tech that puts power back in people’s hands — that’s what got me enthusiastic about The People’s Bid,” Ohanian said. “This isn’t nearly TikTok, it’s about fundamentally rewiring how the web works.”
McCourt and O’Leary submitted their bid to purchase TikTok in early January and have said they’ve no less than $20 billion in commitments from investors.
But because the April 5 deadline approaches, it stays unclear if ByteDance — and the Chinese government — will allow a forced sale to occur.
Apple and Google briefly halted downloads of TikTok in response to Congress’ ban, but later restored access after receiving assurances from Trump’s US Attorney General Pam Bondi that they might not face penalties.
Trump has reportedly tapped Vice President JD Vance to oversee the potential sale. He has also floated the potential for someway extending the sale window, though it’s unclear if he has the authority to accomplish that.
Apart from the McCourt-led bid, Trump has suggested that Microsoft and Oracle billionaire Larry Ellison may very well be involved in a TikTok deal.
X owner Elon Musk has said he has no plans to get entangled despite suggestions on the contrary.
Other bidders include a gaggle led by tech entrepreneur Jesse Tinsley and YouTube star “MrBeast,” whose real name is Jimmy Donaldson.
As The Post reported last month, a recent national survey showed 77% of Americans are concerned about ongoing Chinese ownership of TikTok.
With Post wires
