Reddit co-founder Alexis Ohanian has joined a bid to acquire TikTok, led by billionaire Frank McCourt. McCourt’s organization, Project Liberty, made the announcement earlier this week. Ohanian, who is married to tennis champion Serena Williams, will serve as a strategic adviser for the venture.
The consortium, named “The People’s Bid for TikTok,” aims to bring more transparency and user control to the platform. Ohanian shared his enthusiasm for the project, stating, “I’m officially now one of the people trying to buy TikTok US—and bring it on-chain.” His statement highlighted Project Liberty’s goal to introduce decentralized, blockchain-based technology into TikTok’s operation. This, Ohanian believes, will ensure users have more control over their data.
Project Liberty is committed to redesigning TikTok with privacy, security, and digital independence at its core. If successful, their plan is to make these principles foundational to the platform’s new approach. Ohanian humorously suggested renaming the platform “TikTok: Freedom Edition” in a post on X.
This move comes after the U.S. government imposed a deadline on TikTok to sever ties with its China-based parent company, ByteDance. Last year, a federal bill required TikTok to find new ownership by January 19 or face a potential ban. Former President Donald Trump had extended the deadline until April, giving the company more time to negotiate a sale.
McCourt’s consortium has already made a $20 billion offer to ByteDance for the U.S. portion of TikTok. However, some experts believe the app’s value could be much higher. The consortium includes prominent figures like Shark Tank star Kevin O’Leary.
TikTok’s future remains uncertain, with other potential buyers also entering the race. These include Microsoft and Perplexity AI, an AI startup. Meanwhile, entrepreneur Jesse Tinsley has proposed a deal valued at over $30 billion.
As the situation unfolds, Ohanian and McCourt’s bid highlights the ongoing efforts to redefine TikTok’s ownership and mission, shifting it toward a more secure and independent future.
