After months of public statements of interest potential, Frank McCourt, his internet advocacy group Project Liberty, and a consortium of investors that includes Shark Tank star Kevin O’Leary submitted an official proposal to purchase TikTok to its parent company ByteDance on Thursday.
The formal offer came a day before the Supreme Court was set to hear arguments in a case brought by ByteDance about whether a law forcing the company to sell TikTok to a U.S. company should be allowed to go through. The group, which calls itself the People’s Bid for TikTok, aims to reform the social media company by aligning it with McCourt’s long-held vision to restructure the internet’s infrastructure to collect less data on users.
