Goodbye to the TikTok we knew: Reddit’s creator wants to buy the app and completely update it

Alexis Ohanian, co-founder of Reddit (and also famous for being Serena Williams' husband), has announced his role as strategic advisor for The People’s Bid for TikTok, an initiative led by Frank McCourt, founder of Project Liberty. This bid seeks to acquire TikTok’s U.S. assets from its parent company, ByteDance, to address national security concerns and enhance the privacy of its 170 million U.S. users.

Ohanian, known for his expertise in the tech industry and his venture capital firm Seven Seven Six, has been investing in startups looking to shape the future of technology and social media. His commitment to user-centered design and platform innovation can bring valuable insights to The People’s Bid. “Alexis brings invaluable experience to our initiative. His commitment to user empowerment through social media aligns perfectly with our vision to transform TikTok,” McCourt said.

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The People’s Bid is based on Project Liberty’s Frequency technology, a decentralized blockchain-powered platform that promotes transparency and accountability in the digital space. This technology allows users to take control of their data, fostering better relationships between creators and their audiences, and enabling companies to interact more meaningfully with their customers.

McCourt emphasized that The People’s Bid not only focuses on TikTok’s current challenges, but also seeks to lay the groundwork for a more equitable digital landscape. In his remarks, Ohanian emphasized the importance of user control in the digital realm: “Throughout my career, I have sought to create technology that empowers individuals. My enthusiasm for The People’s Bid stems from its broader goal of transforming the internet. Frequency represents a shift in how social networks can work, where users actually own and manage their own data.”

Project Liberty, established in 2019, aims to enable people to reclaim their digital identities and influence the online world. The organization seeks to improve the internet by giving people more control over their voices, choices and participation. The People’s Bid’s central goal is to transform TikTok into a platform that prioritizes the autonomy of user data. This effort has received support from leaders in finance and technology, as well as numerous citizens concerned about data privacy and security.

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