Reddit Co-Founder Wants To Acquire TikTok and Put the Social Media Giant ‘On-Chain’

Venture capitalist and Reddit co-founder Alexis Ohanian has joined billionaire Frank McCourt’s bid to take over TikTok’s US operations.

In January, McCourt’s internet advocacy organization Project Liberty announced a formal offer to acquire TikTok US with plans to allow users to control how their data will be used and shared.

According to Reuters , Ohanian will help promote Project Liberty’s bid to buy TikTok’s US assets as a strategic adviser specializing in social media.

Ohanian confirmed the report in a post on the social media platform X.

“Exciting news for the digital world… 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.”

He says enabling users to control their data and determine how their information is used will be a significant improvement for TikTok.

“Users should own their data. Creators should own their audience. Period. 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.”

Ohanian says the goal is to set a new standard for digital communities.

“A TikTok for the people, by the people. Let’s see if we can pull this off.”

Generated Image: Midjourney