Reddit Co-founder Joins Bid to Acquire TikTok's US Operations

The co-founder of Reddit, a major US social media platform, is entering the race to acquire TikTok's US operations.

Alexis Ohanian, Reddit co-founder and venture investor, announced on the 4th (local time) via social media platform X (formerly Twitter), "I have officially become one of the people trying to acquire TikTok's US business and bring it on-chain."

This means he intends to acquire TikTok and operate it in a decentralized manner based on blockchain technology.

He said, "TikTok has brought revolutionary changes to creators, and its future should be shaped by them."

Ohanian co-founded Reddit in June 2005 with his college roommate Steve Huffman.

He is expected to join a TikTok acquisition consortium led by Frank McCourt, a real estate tycoon who was the owner of Major League Baseball (MLB) team Los Angeles Dodgers.

McCourt announced the previous day that he would bring in Ohanian as a strategic advisor for social media in the TikTok acquisition effort.

Besides McCourt, a group of investors including tech entrepreneur Jesse Tinsley and famous YouTuber MrBeast are also participating in the bidding.

TikTok suspended its service in the US on January 19, just before the implementation of the so-called 'TikTok ban law,' but restored service when President Donald Trump delayed the ban's implementation by 75 days.

As the Trump administration searches for a TikTok buyer, its parent company, China's ByteDance, is reportedly considering shutting down its US service instead of selling it.

Oh Sesung, Hankyung.com reporter sesung@hankyung.com