In Brief
Posted:
Reddit co-founder and investor Alexis Ohanian has joined billionaire Frank McCourt’s bid to acquire TikTok as a strategic adviser specializing in social media, Reuters reports.
“He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving,” McCourt told Reuters. “Where he can help mostly is validating but also socializing what we’re doing.”
McCourt’s internet advocacy group, Project Liberty, has organized a consortium called The People’s Bid to buy the U.S. assets of TikTok. In January, Project Liberty officially submitted a proposal to acquire the social media app, detailing plans to let users control how their data is used and stored.
Other parties interested in buying TikTok include a group of investors led by tech entrepreneur Jesse Tinsley. Additional potential buyers include Microsoft, Oracle, Perplexity AI, and former Activision CEO Bobby Kotick.
TikTok briefly went down in mid-January, but was restored once President Donald Trump pledged to revive the app. After taking office, Trump signed an executive order to extend the deadline for the TikTok ban by 75 days.
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