Reddit Co-founder Alexis Ohanian Joins Bid to Acquire TikTok US Operations
Reddit co-founder Alexis Ohanian has recently announced his participation in a bid to acquire TikTok’s US operations. This bid, spearheaded by billionaire Frank McCourt, aims to revolutionize the platform by incorporating blockchain technology.
A Strategic Move by Ohanian
On March 4, Ohanian revealed his involvement in the bid by posting on X. He will be contributing as a strategic adviser, drawing from his extensive experience in social media and digital innovation.
“I’m officially now one of the people trying to buy TikTok US — and bring it on-chain. TikTok has been a game-changer for creators, and its future should be built by them.”
Enhancing the Bid with Ohanian’s Expertise
McCourt acknowledged that Ohanian’s insights into social platforms and their evolution will add significant value to the bid and align with the vision of Project Liberty.
The acquisition bid, known as the “People’s Bid,” aims to integrate distributed ledger technology into TikTok, empowering creators and users to take control of their audience and data. Ohanian believes this approach will shift TikTok towards being a platform governed by its community rather than corporate entities.
“Users should own their data. Creators should own their audience. Period.”
Powering Transformation with Frequency
Frequency, a Polkadot parachain, is poised to drive this transformation by enhancing transparency, accountability, and user control. Ohanian emphasized that Frequency would embed decentralized principles into TikTok’s operations, making the platform more equitable and sustainable.
“Frequency will empower these principles to become reality. And with transparency and accountability at the core, this new TikTok won’t just be fairer—it’ll be GREATER.”
ByteDance’s Potential Approval and Regulatory Pressure
If ByteDance approves the offer, TikTok US will integrate Frequency’s blockchain framework, reinforcing decentralization and user empowerment. This acquisition effort comes amidst increasing regulatory pressure on ByteDance to divest its US assets or face a potential ban.
TikTok briefly ceased operations on Jan. 19 to comply with an order demanding its sale but resumed activities after a temporary extension was granted.
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