Social media

Kanye West to buy conservative social media app Parler | Business and Economy News

The deal comes as the rapper was banned from Twitter and Instagram a week ago for anti-Semitic posts.

US rapper Kanye West, now known as Ye, has offered to buy Parler, the social media platform popular among US conservatives, days after he was kicked off Twitter and Instagram for anti-Semitic posts.

Nashville-based Parler, which has raised about $56 million to date, said Monday it expects the deal to close in the fourth quarter of 2022. Parent Parliament Technologies did not given value to the agreement.

The deal comes as Parler, launched in 2018 and billing itself as a free-speech space for those looking for an alternative to platforms such as Twitter Inc, has been reinstated on Google and Apple’s app stores. Inc after being taken down following the US Capitol riots in January. 2021.

Ye was banned from Twitter and Instagram a week ago for anti-Semitic posts that social media said violated their policies.

Ye is no stranger to controversy, once suggesting slavery was a choice and calling the COVID-19 vaccine “the mark of the beast.” Earlier this month he was criticized for wearing a “White Lives Matter” t-shirt to her collection during Paris Fashion Week.

Ye, also a fashion designer, in recent weeks ended its partnership with clothing retailer Gap Inc, while German sporting goods maker Adidas put its Company partnership with the rapper under consideration.

“In a world where conservative views are considered controversial, we must ensure that we have the right to express ourselves freely,” Ye said in a prepared statement.

The acquisition could also breathe new life into Parler, which has struggled against competition from other pro-conservative platforms like Truth Social. Parler had a relatively low average of 983,000 monthly active users for the first half of this year, according to Data.ai, which tracks mobile app usage.

In contrast, Twitter reported that it had a daily average of around 237.8 million active users in its most recent quarter.

“This agreement will change the world and change the way the world views freedom of expression,” Parliament Technologies CEO George Farmer said in a statement.

Ye appeared to have joined Parler on Monday and had around 91 subscribers at the time of the announcement.

The American rapper announced in 2020 that he would run for the US presidency in an apparent challenge to former President Donald Trump, but later pulled out.

Talking also caught the attention of Trump supporters.

Last month, Parler created a new parent company, Parliament Technologies Inc, as part of a revamp.