Reddit co-founder and investor Alexis Ohanian has joined billionaire Frank McCourt's bid to acquire TikTok as a strategic adviser specializing in social media, according to a Reuters report. This move marks a significant development in the ongoing efforts to acquire the popular social media app, which has been at the center of a heated bidding war.

Ohanian's involvement in the bid is seen as a major coup for McCourt's internet advocacy group, Project Liberty, which has organized a consortium called The People's Bid to buy the U.S. assets of TikTok. McCourt praised Ohanian's broad portfolio of experience in social media, stating that he has a keen understanding of where the industry is evolving. Ohanian's role will be to validate and socialize the consortium's plans for TikTok, which include giving users more control over their data and how it is stored.

The bid from Project Liberty is just one of several proposals that have been submitted to acquire TikTok. Other interested parties include a group of investors led by tech entrepreneur Jesse Tinsley, as well as major tech companies such as Microsoft and Oracle. Additionally, Perplexity AI and former Activision CEO Bobby Kotick have also expressed interest in acquiring the social media app.

TikTok's future has been uncertain since last year, when the Trump administration announced plans to ban the app in the United States due to national security concerns. However, in January, President Trump signed an executive order to extend the deadline for the TikTok ban by 75 days, giving the company more time to find a buyer. The app briefly went down in mid-January, but was restored once the deadline was extended.

The acquisition of TikTok is seen as a strategic move for any company looking to expand its social media presence and tap into the app's massive user base, particularly among younger generations. With Ohanian's expertise in social media, Project Liberty's bid may have gained an edge in the competitive bidding process. However, it remains to be seen which party will ultimately emerge as the successful buyer.

The outcome of the bidding process will have significant implications for the future of social media and the tech industry as a whole. As the competition heats up, one thing is clear: the acquisition of TikTok will be a major coup for any company that can secure the deal.