Reddit co-founder Alexis Ohanian has joined “The People’s Bid for TikTok,” an initiative to acquire the popular video-sharing platform from its Chinese parent company, ByteDance.
The effort is led by billionaire real estate and sports mogul Frank McCourt’s Project Liberty, with support from investor Kevin O’Leary, known for his role on Shark Tank.
The bid seeks to introduce a crowdfunding model, allowing individuals and small businesses to invest in TikTok’s future. Project Liberty also plans to integrate blockchain technology into the platform, aiming to enhance user control over data privacy.
Ohanian expressed enthusiasm for the initiative, emphasizing his commitment to technology that empowers users and advocating for a fundamental shift in how the internet operates.
TikTok has faced increasing scrutiny in the US over national security concerns, with fears that the Chinese government could exploit the app for surveillance or influence operations. A law signed last year mandated ByteDance to divest TikTok or face a ban.
However, with President Donald Trump’s return to office in January, enforcement of the law has been temporarily paused, giving TikTok a 75-day reprieve until early April.
Several other major players, including Microsoft, Oracle, and a consortium involving internet personality MrBeast (Jimmy Donaldson), have reportedly expressed interest in acquiring TikTok.
Despite this, ByteDance has shown little urgency in negotiating a sale, and industry attention has increasingly shifted toward China’s DeepSeek AI chatbot, which has been gaining traction in the tech world.
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