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Alexis Ohanian Joins Bid for TikTok’s U.S. Operations

In early March, Alexis Ohanian, co-founder of Reddit, participated in an effort to acquire the U.S. operations of TikTok, the popular social media platform currently owned by a Chinese company, as reported by Reuters. Ohanian is not just a prominent figure in the tech industry; he has also established his presence as a venture capitalist with interests in a variety of successful startups.

As part of the bid spearheaded by billionaire Frank McCourt and his nonprofit venture, Project Liberty, Ohanian will serve as a strategic advisor focusing on social media dynamics, according to Reuters.

Ohanian, who is also recognized as the husband of tennis superstar Serena Williams, has built a considerable wealth of approximately $150 million, as per Celebrity Net Worth. His career is marked by his entrepreneurial spirit and investment acumen.

Founding Reddit

Ohanian co-established Reddit in 2005 alongside Steve Huffman, who currently serves as the CEO. The pair, who were roommates at the University of Virginia, launched Reddit shortly after their graduation. Within just a year, the platform was sold to Condé Nast Publications for an estimated $10 million, as Ohanian recounted in a series of posts on social media in 2020.

After leaving Reddit in 2009, Ohanian returned in 2014 as executive chairman before resigning again in 2020. His departure was marked by a commitment to enhancing diversity within the tech space, specifically requesting that his successor be a person of color. Michael Seibel, then-CEO of Y Combinator, took over his board position.

In a recent update shared on social media, Ohanian confirmed that he still holds some shares in Reddit from his tenure as executive chair. Notably, Reddit went public in March 2024, achieving a valuation of $6.4 billion.

Investments and Venture Capital Endeavors

Ohanian’s investment portfolio boasts a wide array of tech startups, including an impressive collection of 40 unicorns such as Instacart, Coinbase, HubSpot, Opendoor Technologies, Patreon, and Impossible Foods. His early-stage investments have significantly impacted the growth and success of these companies.

Many of these investments were made through Initialized Capital, a venture capital firm co-founded by Ohanian in 2012, which he left in July 2020. Following his departure, he launched a new venture capital firm named 776 in September 2020. This firm manages nearly $1 billion in assets and has invested in a diverse range of startups, including the crowdfunding platform Kickstarter, LA Golf Club, and the snack company Feastables associated with YouTube creator MrBeast.

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