Alexis Ohanian Joins Frank McCourt's TikTok Acquisition Bid

Frank McCourt announced Alexis Ohanian as a strategic adviser in his bid to acquire TikTok's U.S. operations. Ohanian will leverage his social media expertise to help promote McCourt's 'The People's Bid', aiming to give users control over their data. The bid faces competition from other tech investors.

Frank McCourt revealed on Monday that Alexis Ohanian, co-founder of Reddit and esteemed venture capitalist, has joined his team as a strategic adviser in the pursuit of acquiring TikTok's U.S. operations.

Ohanian, a pioneer in the world of online forums since co-founding Reddit, will lend his expertise in social media to advance McCourt's growing 'The People's Bid'. The bid aims to promote user autonomy over data handling, drawing on sophisticated technology.

This acquisition attempt by the former Los Angeles Dodgers owner faces significant competition, with other notable tech investors submitting bids as the deadline looms for TikTok's sale, pressurized by national security concerns. ByteDance, TikTok's parent company, remains minimally involved in the negotiation process.

(With inputs from agencies.)