JAKARTA - The rapper from the United States, Kanye West, whose nickname is now Ye, has in principle agreed to buy Parler, a popular social media platform among US conservatives. This was announced by Parler's parent company, Parliament Technologies, Monday, October 17.
Nashville-based Parler, which has raised around $56 million to date, said it expects the deal to be finalized in the fourth quarter of 2022. But they did not specify how much the deal was worth in the purchase.
Parler, launched in 2018, has reactivated in Google and Apple Inc app stores after being removed following the US Capitol riots in January 2021. Parler is one of several social media platforms, including Gettr, Gab, and Truth Social, which positions itself as an alternative to free speech that is a competitor to Twitter Inc.
Last month, Parler created a new parent company, Parliament Technologies Inc, as part of the fix.
In an interview with Reuters on Monday, Chief Executive Officer of Parliament Technologies, George Farmer, said talks about the deal with Ye began recently, after Paris Fashion Week.
In Paris on October 3, Ye, who is also a fashion designer, wore a T-shirt that read: White Lives Matter. Four days later, she made an Instagram post called anti-Semitic by several Jewish groups. Meta Platforms, which owns Instagram and Facebook, locked Ye from her Instagram account because of the post.
Ye then moved to Twitter, posting on October 8 for the first time in two years; Twitter also immediately blocked his account.
This made Farmer immediately offer Parler to Ye. The motivation factor is the discussion about Instagram blocking it, said Farmer who declined to comment on whether the deal included breaking costs if one side stopped it.
Ye in September ended her partnership with clothing retailer Gap Inc, while German sports apparel maker Adidas said on October 6 he was reviewing his business partnership with the rapper.
Farmer himself said he was not worried about the prospect of Parler's ad under Ye later.
"I see this as a warning shot in the direction for companies that want to take down people's platforms. More and more advertisers want to advertise into this space," Farmer said.
Ye appeared to have joined Parler on Monday and had about 91 followers at the time of the announcement. He now even has 10,400 followers on the newly purchased platform.
"In a world where conservative opinions are considered controversial, we must ensure that we have the right to express ourselves freely," he said in a statement.
Farmer says Parler has 16.5 million registered users. Apptopia research firm estimates the platform has been installed 11.7 million times since its launch, with an estimated 40,000 active users daily. Forbes estimates Ye has a net worth of $2 billion.
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