Reddit Cofounder Joins Bid to Acquire TikTok
Alexis Ohanian, the co-founder of Reddit, has announced his participation in a bid to purchase TikTok from its Chinese owner, ByteDance. Ohanian revealed his involvement in the consortium via social media, emphasizing the crucial role creators will play in TikTok’s future.
The bid, known as “The People’s Bid,” is a joint effort that includes Frank McCourt, former owner of the Los Angeles Dodgers, and “Shark Tank” star Kevin O’Leary. The group submitted their proposal to TikTok in early January, aiming to redesign the platform using blockchain technology to enhance user control over data.
The consortium’s vision focuses on giving American TikTok users control, protection, and benefits from their data. Ohanian stressed the importance of users and creators owning their data and audience, reflecting his ongoing interest in digital communities and user empowerment.
Ohanian, who cofounded Reddit in 2005 and sold it to Condé Nast in 2006, later returned as executive chair in 2014 before leaving the board in 2020. His involvement in this bid underscores his continued engagement with digital platforms and user rights.
TikTok’s operations in the US have been under scrutiny due to its Chinese ownership. A divest-or-ban law previously required TikTok to cease US operations unless it divested from ByteDance. While the platform briefly halted services, it resumed after an executive order from President Trump paused the ban.
Various solutions have been proposed to address concerns about TikTok’s ownership, including partial US ownership or sale to tech billionaires. However, the future of TikTok in the US remains uncertain, with ongoing discussions about ownership and control.
As of now, representatives for Ohanian and TikTok have not commented on the bid or the current situation. The tech community and TikTok users alike await further developments in this high-stakes acquisition attempt.
