News Summary

Reddit co-founder and investor Alexis Ohanian has joined billionaire Frank McCourt’s consortium, The People’s Bid, to acquire TikTok’s U.S. operations. Acting as a strategic adviser, Ohanian brings extensive experience in social media to the table. Project Liberty, McCourt’s internet advocacy group, spearheaded the proposal to buy TikTok, emphasizing user control over data usage and storage. Other interested parties include investors led by tech entrepreneur Jesse Tinsley, and companies like Microsoft, Oracle, Perplexity AI, and former Activision CEO Bobby Kotick.