Billionaire Frank McCourt announced on Monday that Alexis Ohanian, co-founder of Reddit and a venture capitalist, has joined his bid to acquire TikTok’s U.S. operations.
Ohanian, an internet pioneer, founded Reddit with his University of Virginia roommate. He sold the platform to Conde Nast in 2006, later returning in 2014 as executive chairman to lead its turnaround. His investment portfolio includes tech companies such as Instacart, Patreon, and OpenSea.
“He has that broad portfolio of experience — of where social media was and a keen understanding of where it’s evolving,” McCourt said.