Reddit co-founder Alexis Ohanian has joined “The People’s Bid for TikTok,” a US-based effort to acquire the video-sharing platform from its Chinese parent company, ByteDance.
Ohanian announced on Monday that he would serve as a strategic advisor to the initiative, which is spearheaded by billionaire real estate and sports tycoon Frank McCourt’s Project Liberty. The campaign also includes investor Kevin O’Leary, known from the TV show Shark Tank.
The bid seeks to introduce a crowdfunding element, allowing individuals and small businesses to invest in the app’s future. Project Liberty has also promised to integrate blockchain technology into TikTok, giving users greater control over their data.
“I’ve spent my entire career building tech that puts power back in people’s hands—that’s what got me excited about The People’s Bid,” Ohanian said. “This isn’t just about TikTok, it’s about fundamentally rewiring how the internet works.”
The social media platform has been under pressure in the US due to national security concerns, with fears that the Chinese government could exploit the app to spy on Americans or manipulate public opinion. A US law signed last year ordered ByteDance to divest TikTok or face a ban. However, after President Donald Trump began his second term in January, enforcement of the law was paused for 75 days, giving TikTok a temporary reprieve until early April.
Several major players, including Microsoft, Oracle, and a consortium featuring internet star MrBeast (Jimmy Donaldson), are also reportedly interested in acquiring the platform. However, TikTok itself has shown little urgency in negotiating a sale, and industry attention has recently shifted to China’s DeepSeek AI chatbot, which has captured growing interest in the tech world.
