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Takeaways
- Reuters reports that Alexis Ohanian, co-founder of Reddit, joined a bid in early March to buy the U.S. operations for TikTok – a Chinese social media app.
- Ohanian is an investor and entrepreneur who has founded his own venture-capital firms and invested in many successful tech startups at the early stages.
- According to Celebrity Net Worth, Ohanian’s estimated net worth is $150 million.
Alexis Ohanian is the co-founder of Reddit. He has made millions in his entrepreneurial ventures, and through investments. Now he is joining billionaire Frank McCourt in his bid to buy the U.S. operations for China-based social media application TikTok.
Ohanian was hired by former Los Angeles Dodgers Owner McCourt to be a strategic adviser specializing in Social Media for his nonprofit Project Liberty bid, per Reuters.
Investor, entrepreneur, and husband of tennis legend Serena Williams Ohanian founded multiple venture capital companies and was an early investor in many successful tech startups. According to Celebrity Net Worth, Ohanian’s estimated net worth is $150 million.
Here's how Ohanian made his millions.
Ohanian founded the social media platform Reddit with Steve Huffman in 2005. Huffman currently serves as the CEO of Reddit. Ohanian and Huffman shared a college room at the University of Virginia. They founded Reddit soon after graduation. A year after it was founded, Ohanian and Huffman sold Reddit to Condé Nast Publications for an estimated $10 million, according to a series of posts by Ohanian on the social media app X in 2020.
Ohanian, who left Reddit in 2009 to become executive chairman in 2014, rejoined the company in 2014. Ohanian asked to be replaced in 2020 by a Black candidate in order to push for diversity in technology. Michael Seibel was appointed to replace Ohanian as the board member. Michael Seibel was the CEO at the time of Y Combinator.
Ohanian said that he had shares in Reddit he owned from his time as the executive chair in a February 2024 post on X.
Reddit went public with a valuation in March 2024 of $6.4 billion.
Venture Capital Fund and Other Investments
Ohanian has invested in a host of tech startups, among them 40 unicorns—including Instacart, Coinbase Global (COIN), Hubspot (HUBS), Opendoor Technologies (OPEN), Patreon, and Impossible Foods.
Ohanian, who co-founded Initialized Capital in 2012, left the firm in July 2020.
Ohanian founded a venture capital firm in September 2020. The firm manages nearly $1 billion and invests in startups like the crowdfunding platform Kickstarter, LA Golf Club, MrBeast Industries and Feastables, a snack company owned by YouTube content creator MrBeast.
