TikTok, owned by the Chinese company ByteDance, has been at the center of controversy in the U.S. for four years now due to concerns about user data As TikTok's future remains uncertain, a number of prominent moguls and companies are competing for the opportunity to purchase the app.

Reddit co-founder Alexis Ohanian has joined billionaire Frank McCourt’s bid to acquire TikTok as a strategic adviser. McCourt’s internet advocacy organization, Project Liberty, announced this week that the Ohanian, an investor married to tennis star Serena Williams, had joined a consortium called “The People’s Bid for TikTok”.

I’ve spent my entire career building tech that puts power back in people’s hands - that’s what got me excited about The People’s Bid.”

In a move that has stirred significant attention, the U.S. administration, led by President Donald Trump, granted TikTok a 75-day extension in January to comply with a law mandating either its sale or ban.