Reddit Co-Founder Alexis Ohanian Joins

Ohanian Joins Project Liberty

Reddit co-founder Alexis Ohanian has joined Frank McCourt’s proposal to acquire TikTok’s operations in the United States as a strategic adviser.

McCourt’s Project Liberty confirmed this development on Monday (March 3), adding a technological industry focus to the app, which aims to “reshape the platform with a priority on the privacy of 170 million Americans.”

Strategic Vision for TikTok

This initiative comes as TikTok’s Chinese parent company, ByteDance, faces ongoing pressure to sell the platform as President Donald Trump extended the deadline for potential action against TikTok in the U.S. by 75 days.

McCourt, who previously owned the Los Angeles Dodgers, announced what he calls a “fair offer” to ByteDance in May 2024. The proposal was officially submitted on January 9. Financial details of the proposal have not been disclosed.

Ohanian brings social media experience to the table, having co-founded Reddit in 2005 and selling it to Conde Nast in 2006. He returned as executive chairman in 2014, leaving again in 2020. In the same year, he launched Seven Seven Six, a venture capital firm investing in early-stage companies.

“I’ve spent my entire career building tools that return power to the hands of people—this is what excites me about this proposal,” Ohanian said.

“It’s not only about TikTok, but about fundamentally altering how the Internet operates.”

Alexis Ohanian

Future of Social Media

McCourt’s Project Liberty aims to implement “Frequency”, a blockchain-based platform designed to give users ownership over their personal data while addressing national security concerns regarding TikTok’s future in the U.S.

“We are discussing not just TikTok, but fundamentally rethinking social networks to ensure that everyone truly owns and controls their own data. I am excited to collaborate with Frank and the Liberty project to revitalize TikTok,” Ohanian stated.

“Ohanian’s role as a strategic consultant for Project Liberty and TikTok offers invaluable insights to our initiative. His unique vision and personal commitment to enhancing user rights align perfectly with our transformative approach,” McCourt remarked.

“His involvement emphasizes the potential for redefining the Internet. We are thrilled to have him on board as we aim to usher in a new and improved chapter for TikTok while turning the momentum created by this proposal into the creation of an Internet for the people.”

Founded in 2019, Project Liberty’s proposal for TikTok is supported by Guggenheim Securities, Guggenheim Partners, and the law firm Kirkland and Ellis.

Project Liberty claims to have garnered support from leaders across finance, politics, and technology, including Sheila Warren, the former CEO of the Crypto Council for Innovation.

Nonetheless, the bid faces challenges, as McCourt indicated that ByteDance is only “slightly” engaged in the sale process. He mentioned that ByteDance may consider closing TikTok in the U.S. instead of selling it.

Competition for TikTok’s U.S. business has intensified recently. Other contenders include a consortium led by tech entrepreneur Jesse Tinsley and YouTube star Jimmy Donaldson (also known as MrBeast), as well as businessman Weiming Raizner among their backers.

In February, SpaceX and Tesla CEO Elon Musk, who acquired Twitter for $44 billion in 2022, stated he has no plans to buy TikTok, expressing his preference for building companies from the ground up rather than acquiring existing ones.

TikTok continues to face pressure to sell its U.S. operations or risk a potential ban under legislation signed by former President Joe Biden last year.

TikTok briefly entered an autonomous state for 14 hours on January 19 when the U.S. SKART or Bank Act, signed by President Joe Biden, took effect. However, the platform returned to service following Trump‘s executive order, which delayed compliance with the law for 75 days, extending the deadline to April 5.

Trump mentioned at the end of January that he was negotiating with several parties regarding the purchase of TikTok. NPR reported that the Trump administration is in discussions with Oracle behind the plan to save TikTok, alongside other external investors, including Microsoft for the acquisition of global operations. However, none of the companies have publicly commented on this matter.