Kanye West, better known as Ye, has agreed to acquire Parler, he said in a statement Monday, in a move they say will allow people to openly express their conservative views.
Parler, located in Nashville, has funded around $56 million to far and anticipates the transaction to completion in the fourth quarter of 2022. It didn’t provide a deal value.
Parler, which emerged in 2018, has been reintroduced into the Google and Apple Inc. app stores after being deleted following the U.S. Riots at the Capitol in January 2021. Parler is one of numerous social media networks, including Gettr, Gab, and Truth Social, that promote themselves as alternatives to Twitter Inc. in terms of free expression.
Parler has agreed to sell wholly to West as part of the agreement, the financial specifics of which were not disclosed, but the social network will continue to get technical assistance from Parlement Technologies, including access to its private cloud services and data center infrastructure. The transaction is scheduled to conclude within the current fiscal quarter.
Kanye,who has recently accused Meta and Twitter of censorship, said in a statement: “In a world where conservative viewpoints are considered controversial, we must ensure that we have the freedom to openly express ourselves.”
West, who also owns clothing and sports companies, was banned off Instagram and Twitter earlier this month for tweeting anti-Semitic sentiments.
Parler, a conservative sanctuary that has drawn supporters of former President Donald Trump, returned to the Google Play Store this month after being removed by Google during the Capital riots in January 2021 for its involvement in instigating violence.
According to market intelligence platform Sensor Tower, Parler has slightly more than 250,000 monthly active users on its iOS and Android apps. (An industry executive shared the information with TechCrunch.) Pew Research reported earlier this month that 38% of those polled had heard of Parler.
“This agreement will transform the globe, and change the way the world thinks about free speech,” Parlement Technologies CEO George Farmer said in a statement. Ye is making a game-changing move into the free speech media sphere, and he will never have to fear being banned from social media again. Ye demonstrates over again that he is one step ahead of the legacy media narrative. Parlement will be honored to assist him in achieving his goals.
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