Reddit Co-Founder Participates in Bid to Acquire TikTok

Reddit co-founder Alexis Ohanian, who is married to tennis legend Serena Williams, has joined a consortium called The People’s Bid for TikTok. This consortium was started by the internet advocacy organization Project Liberty, led by billionaire Frank McCourt. The group aims to acquire TikTok's U.S. assets from its parent company, ByteDance, with an offer of $20 billion. Ohanian is acting as a strategic adviser in this acquisition bid, which could reshape the way TikTok operates in the United States.

The People’s Bid for TikTok and Its Vision

The People's Bid for TikTok is a project spearheaded by Project Liberty, which focuses on advocating for internet freedom and privacy. Ohanian, who has expressed his interest in utilizing blockchain technology to transform the platform, stated that his goal is to bring TikTok to the blockchain and make it more decentralized. This means TikTok users would have greater control over their online data and privacy.

Ohanian further explained in a series of posts on X (formerly known as Twitter) that the revamped TikTok would not only empower users but also bring essential security and privacy features as foundational elements of the platform. The aim is to create a TikTok: Freedom Edition, where user autonomy and digital independence are prioritized. Ohanian’s inclusion in this bid signals his strong belief in the need for user control, alongside a fundamental shift in how the platform operates.

The $20 Billion Offer and Strategic Vision for TikTok

Project Liberty’s bid to acquire TikTok’s U.S. assets is a significant step, with the consortium offering $20 billion in cash to ByteDance. McCourt’s consortium has expressed disinterest in TikTok’s famous algorithm, focusing instead on acquiring the platform's infrastructure and user base in the U.S. The bid marks a crucial moment in the ongoing negotiations between ByteDance and potential buyers of TikTok’s U.S. operations.

Ohanian and his fellow consortium members see this acquisition as a means to provide digital sovereignty to American users while distancing the platform from concerns about Chinese influence. This move is in line with the recent U.S. legislation that mandates TikTok to sever ties with ByteDance or face a potential ban. Ohanian’s vision of decentralized technology could serve as the basis for a restructured TikTok that prioritizes user privacy, data security, and digital independence.

The U.S. Government’s Involvement and Legislation Impact

The acquisition bid is influenced by a federal bill passed with bipartisan support, which requires TikTok to cut ties with its parent company, ByteDance. The law was signed into effect by former President Joe Biden last year, setting a deadline of January 19 for TikTok to either sever ties with ByteDance or face the possibility of being banned in the U.S. This legislation has pushed TikTok to explore new ownership options, leading to several potential buyers, including McCourt’s consortium.

Potential Competitors and Other Interested Parties

While Project Liberty and Alexis Ohanian’s involvement in the TikTok bid is significant, they are not the only contenders for the platform. Among the companies exploring the purchase of TikTok’s U.S. operations is Microsoft, which has been in discussions to acquire the platform for some time. Other entities, such as Perplexity AI, an artificial intelligence startup, have also proposed merging their business with TikTok’s U.S. platform. Perplexity AI is additionally offering the U.S. government a stake in the new entity.

Another bidder, Jesse Tinsley, founder of payroll company Employer.com, has put together a consortium that includes the CEO of the video game platform Roblox. Tinsley’s group is offering over $30 billion to acquire TikTok from ByteDance, indicating that the bidding war for the platform’s U.S. assets is intensifying.

Conclusion: Ohanian’s Vision and the Future of TikTok

Alexis Ohanian’s involvement in the bid to acquire TikTok U.S. assets is a critical development in the broader narrative of digital privacy, decentralized platforms, and the future of social media. If successful, Project Liberty’s plan could set a new precedent for user-first digital platforms that prioritize privacy, security, and independence from foreign influence. The outcome of the bid could dramatically shape the future of TikTok in the U.S. and influence other social media platforms as they navigate privacy concerns and shifting regulations.