Ye is buying Parler

Kanye West agreed to buy Parler, a social media app that bills itself as a "free speech Twitter alternative," in a deal with undisclosed terms, the company announced yesterday.

"In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves," said West, who legally changed his name to Ye last year. He wasn't available for any further comments.

📱🌐 Background… Parler has raised a total of $56 million at undisclosed valuations, including a $16 million Series B round last month. The app had an estimated 725,000 monthly active users in the US through the first half of the year.

• Parler was previously removed from Google, Apple, and Amazon’s services in the wake of the January 6 riot at the US Capitol for failing to moderate violent and unlawful content.
• The app circumvented Amazon by signing up with a different cloud provider, was allowed back on Apple’s App Store in May 2021, and eventually returned to Google’s Play Store last month. The company has an ongoing lawsuit against Amazon over its denial of service.

⏩ That brings us to this month: In an interview published yesterday, Parler CEO George Farmer said discussions about a potential deal began when his wife, conservative commentator Candace Owens, attended Ye’s fashion week in Paris two weeks ago.

• Ye’s purchase of Parler was announced one week after his Insta and Twitter accounts were restricted in response to antisemitic posts. (The rapper turned fashion mogul tweeted that he would go “death con 3 On JEWISH PEOPLE,” and suggested on Instagram that Jewish people controlled Diddy, repeating longstanding antisemitic tropes.)

👀 Looking ahead… The acquisition is expected to officially close later this quarter.

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