Reddit Co-Founder Ohanian Teams Up with McCourt's TikTok Acquisition Bid
Reddit co-founder Alexis Ohanian has joined Frank McCourt's bid to acquire TikTok's U.S. operations as a strategic adviser specializing in social media. Ohanian, who helped create "the front page of the internet" before selling it to Conde Nast in 2006, brings extensive Silicon Valley experience through investments in companies like Patreon, OpenSea, and Instacart.
Alexis Ohanian speaking at podium
Photo Credit: Nrkbeta / CC by 3.0
McCourt submitted his bid in early January amid TikTok ban concerns under the Biden administration. The bid includes detailed information about financing, technology approach, and solutions to national security issues raised by agencies like the FCC and FBI.
However, ByteDance, TikTok's Chinese parent company, has shown reluctance to engage in sales discussions. The company hasn't retained a banker 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. McCourt believes Ohanian's expertise will help validate their project's technology while explaining its importance to non-technical stakeholders.
Alanis Morissette performing in Las Vegas
The situation remains fluid as negotiations continue, with national security concerns and technological considerations at the forefront of discussions.
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