Reddit Co-Founder Ohanian Joins McCourt's Bid to Acquire TikTok US Operations
Reddit co-founder Alexis Ohanian has joined Frank McCourt's bid to purchase TikTok's U.S. operations as a strategic adviser, bringing his extensive social media expertise to the table.
Alexis Ohanian speaking at podium
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Ohanian, who co-founded Reddit and later helped revitalize it as executive chair in 2014, brings valuable experience from his investments in successful tech companies like Patreon, OpenSea, and Instacart. McCourt believes Ohanian's understanding of social media's evolution and technical expertise will be crucial for the Project Liberty bid.
The bid comes amid increasing pressure from the Biden administration's potential TikTok ban. McCourt has already submitted comprehensive information to the White House, including financing details and plans to address national security concerns raised by the FCC and FBI.
However, ByteDance's reluctance to engage in sales talks presents a significant obstacle. The Chinese parent company hasn't retained any bankers or defined which assets would be included in the sale, suggesting they might prefer shutting down U.S. operations entirely rather than selling them.
President-elect Trump has granted a 75-day delay in enforcing the ban, with Vice President JD Vance overseeing the sale process. The situation remains fluid as stakeholders work to find a solution that satisfies both national security concerns and business interests.
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