Technology

Ex-Reddit Chief Ohanian Supports Acquisition Offer for TikTok USA

Ex-Reddit CEO Ohanian supports McCourt's takeover bid for TikTok USA – ByteDance might prefer to shut down the platform rather than sell it.

Eulerpool News Mar 12, 2025, 5:01 AM

Reddit co-founder and venture capitalist Alexis Ohanian joins Frank McCourt's bid for the U.S. operations of TikTok. McCourt, former owner of the Los Angeles Dodgers, aims to operate the short video platform under the brand Project Liberty on a privacy-friendly technology that aims to give users more control over their data.

Alexis has a unique perspective on the development of social media and understands where it's heading," McCourt said on Monday. Ohanian, who sold Reddit to Condé Nast in 2006 and returned as chairman in 2014, has invested in several tech companies, including Instacart, Patreon, and OpenSea.

McCourt's consortium submitted an offer for TikTok's US division in January. The Chinese parent company ByteDance is under pressure to either find a buyer for its US operations or face a potential ban. After a temporary shutdown of the app on January 19, Donald Trump lifted the ban and set a 75-day deadline for the sale process, for which Vice President JD Vance is responsible.

Interest in TikTok is high. In addition to McCourt, an investor consortium including Jesse Tinsley, YouTube star MrBeast (Jimmy Donaldson), and entrepreneur Reid Rasner has formed. Nevertheless, ByteDance's position remains unclear. The company has not yet mandated an investment banker, defined a sales process, or set a valuation. McCourt considers it possible that ByteDance would rather shut down the US version of TikTok than sell it.

Our priority is to create a secure, transparent platform that respects user privacy," Ohanian said. According to McCourt, the consortium has provided extensive information to the US government regarding the financing and security architecture of the offer.

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