According to Reuters, American real estate tycoon and former Los Angeles Dodgers owner Frank McCourt announced on Monday thatReddit co-founder and venture capitalist Alexis Ohanian has joined a consortium bidding for TikTok's U.S. business, serves as a strategic advisor focusing on the social media space.
Ohanian is an internet pioneer who co-founded Reddit with his roommates at the University of Virginia and sold it to Condé Nast in 2006. In 2014, he returned as executive chairman to lead the company's revitalization of the business. In addition, he has invested in many technology companies such as Instacart, Patreon and OpenSea.
"He has a lot of experience... and a deep understanding of the history of social media. I think he also has a keen understanding of the evolution of social media," McCourt said.
McCourt said,Ohanian will help promote his company "Project Liberty"'s bid for TikTok's U.S. assets.He called the bid "the people's bid" because it would use technology that would give users control over how their data is used and shared.
Ohanian said he was excited to be part of a project that would give people more control over their data.In early January this year, McCourt and his partners proposed to acquire TikTok’s US business. At that time, TikTok faced the risk of being banned if it did not sell its US business.