Reddit Co-Founder Joins Effort to Acquire TikTok and Bring It On-Chain

Alexis Ohanian, the co-founder of Reddit, has confirmed that he is part of a group bidding to acquire TikTok’s U.S. operations. The bid, led by Frank McCourt and backed by Project Liberty, aims to take over TikTok’s U.S. assets, with the goal of transforming the platform by integrating blockchain technology and giving users greater control over their data.

Ohanian, a prominent figure in Silicon Valley and the social media technology space, has expressed that, if the acquisition is successful, the vision for TikTok’s future will be built by creators themselves. In a statement on X (formerly Twitter), Ohanian emphasized that TikTok has already been revolutionary for creators, and its future should empower them even more. His remarks came after McCourt welcomed Ohanian to the bid, noting his experience and understanding of the evolving social media landscape as key assets to the project.

The proposal from Project Liberty envisions a decentralized version of TikTok, built on blockchain technology. This would allow users to have more control over how their data is used and shared. McCourt highlighted that Ohanian’s expertise in social media and technology will be instrumental in validating and socializing the project, especially when it comes to demonstrating the legitimacy and necessity of integrating blockchain into a platform as widely used as TikTok.

TikTok is currently owned by ByteDance, a Chinese internet company, and has faced regulatory challenges in the U.S. due to concerns over data privacy and national security. There have been ongoing discussions about potential bans, and traders have raised concerns about the likelihood of such a ban being enforced.

Ohanian’s involvement in the bid is notable, as his investment portfolio includes companies like Instacart, Patreon, and OpenSea. His expertise in the social media and technology sectors positions him as a key player in the efforts to reshape TikTok and explore how blockchain can enhance its capabilities and user experience. If successful, this acquisition and its vision for TikTok could represent a significant shift in the intersection of social media and blockchain technology.