Reddit Co-Founder Alexis Ohanian Joins Bid to Acquire TikTok US, Plans ‘Freedom Edition’ Rebrand

Reddit co-founder Alexis Ohanian has officially joined a consortium seeking to acquire TikTok’s U.S. operations and transform the platform into a blockchain-based service. The bid comes amid ongoing uncertainty about TikTok’s future in the United States following legislation that required its Chinese parent company to divest or face a ban.

Ohanian announced his participation in the acquisition effort on Tuesday through a social media post, stating: “I’m officially now one of the people trying to buy TikTok US — and bring it on-chain,” referring to plans to transition the video-sharing app onto a blockchain platform.

This move follows investor Frank McCourt’s announcement on March 3 that Ohanian had joined the nonprofit Project Liberty’s consortium as a strategic adviser. The group has branded its initiative as “The People’s Bid for TikTok.”

McCourt, who founded Project Liberty, welcomed Ohanian’s involvement, saying: “We are excited to have him on board as we work to usher in a new and better chapter for TikTok, and turn the momentum created from The People’s Bid into building The People’s Internet.”

The consortium aims to decentralize TikTok using Project Liberty’s blockchain-based platform called Frequency Technology. According to their statements, this technology “will serve as the backbone of the redesigned TikTok, ensuring that privacy, security, and digital independence are no longer optional but foundational.”

Ohanian emphasized his vision for the platform in follow-up posts, stating: “Users should own their data. Creators should own their audience. Frequency will empower these principles to become reality.” When asked what he would name the app if his bid succeeds, Ohanian revealed he would call it “TikTok: Freedom Edition.”

Project Liberty has already secured “expressions of interest” exceeding $20 billion from its participants, including “Shark Tank” investor Kevin O’Leary, who has also joined the consortium.

TikTok’s status in the U.S. has been precarious since legislation signed by then-President Biden in April 2024 required ByteDance, TikTok’s China-based parent company, to divest its U.S. assets or face a nationwide ban. The app was briefly shut down on January 19 before returning online after President Trump signed an executive order pausing enforcement of the law for 75 days.

President Trump has indicated his preference for a deal where the United States would hold a 50 percent stake in TikTok. “So what I am thinking about saying to somebody is, ‘Buy it and give half to the United States of America and we’ll give you the permit,’ and they’ll have a great partner,” the president stated on January 21.

Other potential buyers have emerged, with Trump mentioning Microsoft as an interested party on January 27. Additionally, prominent YouTuber Jimmy Donaldson (known as MrBeast) previously announced he had partnered with “a bunch of billionaires” to pursue acquiring TikTok.

ByteDance has not yet indicated willingness to sell TikTok, and China’s Ministry of Foreign Affairs has stated that any acquisition must comply with Chinese laws and regulations.

U.S. officials have expressed concerns that the Chinese Communist Party (CCP) could potentially access American user data through ByteDance, pointing to Beijing’s counterespionage law requiring entities in China to provide user data upon request. ByteDance has consistently maintained it would not share U.S. user data with the CCP.

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