Ohanian, an internet trailblazer who co-founded Reddit during his time at the University of Virginia, sold the platform to Conde Nast in 2006 before returning in 2014 as executive chair to spearhead its revival. He has also invested in numerous tech companies, including Instacart, Patreon, and OpenSea.
McCourt praised Ohanian’s extensive experience, stating, “He has that broad portfolio of experience … of where social media was and, I think, a keen understanding of where it’s evolving.” Ohanian’s role will be to support McCourt’s “Project Liberty” bid, dubbed “The People’s Bid,” which aims to operate TikTok on technology that empowers users to control how their data is used and shared.
McCourt explained that Ohanian’s expertise will be crucial in validating and promoting the initiative. “Where he can help mostly is validating but also socializing what we're doing,” McCourt said. “On the one hand, this is a project which has very sophisticated technology at the core, and so you're dealing with a very specific audience when it comes to demonstrating the validity of that technology and how it works, and why it's necessary. And then you have a totally different constituency, which is basically non-technologists, who are impacted by this technology more than they realize.”
Ohanian expressed enthusiasm for the project, emphasizing the opportunity to give users greater control over their data. McCourt, former owner of the Los Angeles Dodgers, and his partners submitted their bid for TikTok in early January, as ByteDance faced a deadline to sell the app’s U.S. operations or risk a ban.
The app briefly shut down in the U.S. just hours before the ban was set to take effect on January 19, but service was restored after President-elect Donald Trump intervened, granting a 75-day delay and tasking Vice President JD Vance with overseeing the sale process.
The potential acquisition of TikTok, one of the world’s most popular video-sharing platforms, has attracted significant interest from a diverse range of bidders, including financiers, tech entrepreneurs, and entertainment figures. Among them is a group led by tech entrepreneur Jesse Tinsley, which includes YouTube star MrBeast (Jimmy Donaldson) and Wyoming entrepreneur Reid Rasner.
McCourt noted that he has provided the White House with detailed information about his bid, including financing plans, technological approach, and measures to address national security concerns.
However, he indicated that ByteDance, TikTok’s Chinese parent company, has been minimally involved in the process, having not yet retained a banker, defined the assets for sale, or set a valuation. McCourt suggested that ByteDance might even consider shutting down the app, which is used by half of the U.S. population, rather than proceeding with a sale.