Kanye West agrees to purchase social media app Parler

Oct 17 (Reuters) – American rapper Kanye West, who now goes by Ye, has agreed…

Kanye West agrees to purchase social media app Parler

Oct 17 (Reuters) – American rapper Kanye West, who now goes by Ye, has agreed in precept to purchase Parler, the social media platform well-liked amongst U.S. conservatives, dad or mum firm Parlement Applied sciences mentioned on Monday.

Nashville-based Parler, which has raised about $56 million up to now, mentioned it expects the deal to shut throughout the fourth quarter of 2022. It didn’t give a deal worth.

Parler, which launched in 2018, has been reinstated on Google and Apple Inc’s app shops after being eliminated following the U.S. Capitol riots in January 2021. Parler is one in every of a number of social media platforms, together with Gettr, Gab and Reality Social, that place themselves as free-speech alternate options to Twitter Inc (TWTR.N).

Final month, Parler created a brand new dad or mum firm, Parlement Applied sciences Inc, as a part of an overhaul.

In an interview with Reuters Monday, Parlement Applied sciences Chief Government Officer George Farmer mentioned the deal talks with Ye started lately, after Paris Trend Week.

In Paris on Oct. 3, Ye, who can be a dressmaker, wore a T-shirt emblazoned with the phrase: “White Lives Matter.” 4 days later, he made Instagram posts that a number of Jewish teams referred to as anti-Semitic. Meta Platforms (META.O), which owns Instagram and Fb, locked Ye out of his Instagram account for the posts.

Ye then moved to Twitter, posting on Oct. 8 for the primary time in two years; Twitter quickly locked his account.

The Parler deal got here collectively shortly, CEO Farmer mentioned, and Parlement was “introduced with a possibility.”

“The motivating issue with him was the dialogue about Instagram blocking him.” Farmer declined to touch upon whether or not the deal features a break-up price if both get together terminates it.

Ye in September terminated his partnership with attire retailer Hole Inc (GPS.N), whereas German sporting items maker Adidas (ADSGn.DE) on Oct. 6 mentioned it’s reviewing its enterprise partnership with the rapper.

Farmer mentioned Monday he isn’t involved about Parler’s promoting prospects underneath Ye.

“I see this as a warning shot throughout the bow for firms that need to de-platform folks,” Farmer mentioned. “There are more and more advertisers who need to promote to this area.”

Ye appeared to have joined Parler on Monday and had about 91 followers on the time of the announcement. He now has 3,900.

“In a world the place conservative opinions are thought-about to be controversial we’ve got to ensure we’ve got the correct to freely categorical ourselves,” he mentioned in an announcement.

Farmer says Parler has 16.5 million registered customers. Analysis agency Apptopia estimates the platform has been put in 11.7 million occasions since launch, with an estimated 40,000 each day energetic customers.

Forbes estimates Ye to have a internet price of $2 billion.

Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru and Helen Coster in New York; Modifying by Savio D’Souza and Dhanya Ann Thoppil

Our Requirements: The Thomson Reuters Belief Ideas.