Ye to buy controversial social networking app Parler

Ye, formerly known as Kanye West, has agreed to buy Parler, a social media platform that has been embraced by conservatives who departed Twitter over allegations of political censorship. Parlement Technologies, the parent company behind Parler, announced Monday that it plans to sell the social media platform to the hip-hop icon for an undisclosed amount. The deal would include technical support from Parlement, such as cloud services. Ye said he was motivated to acquire the conservative social media service Parler by his belief that existing platforms like Instagram and Twitter are too restrictive when it comes to user speech. “When I got kicked off of Instagram and Twitter at the time, I knew it was time to acquire my own platform,” Ye said in an interview with Bloomberg News on Monday. “People had talked about it and mentioned this idea for years, but enough was enough.” The rapper and designer was recently restricted from posting on some major social media platforms for violating their content policies. Twitter Inc. removed an anti-Semitic post from Ye last week and locked his account just a day after he had returned to the platform for the first time in nearly two years. Meta Platforms Inc.’s Instagram also deleted posts over anti-Semitic language. Ye said Parler is for people like him, who have been penalized by much bigger platforms. “We’re using this as a net for the people who have been bullied by the thought police to come and speak their mind,” he said. “Express how you feel. Express what’s tied up inside of you. Express what’s been haunting you. I use social media as my therapist.” Billionaire Elon Musk, who has an agreement to buy Twitter for $44 billion, says he spoke with Ye last week after Twitter froze his account. Ye said Musk didn’t advise him on buying Parler in that conversation, and he came to the decision on his own. Ye said he is planning to have dinner with former U.S. President Donald Trump this week, and will invite him onto Parler. Ye said he’ll join Trump’s own alternative network, Truth Social, too. More social media news Ye is buying his own social media platform at a time when the biggest tech firms are struggling with how to control and manage some of their largest users, and marks the continuing development of alternative social media sites. “In a world where conservative opinions are considered to be controversial we have to make sure we have the right to freely express ourselves,” Ye said in a statement on Monday. Ye has recently faced restrictions from the major social media platforms for breaking content policies. Twitter removed a tweet from Ye last week about Jewish people, just a day after he returned to the platform for the first time in nearly two years. Instagram has also deleted posts. Sign up for Ad Age newsletters From influencer marketing to agencies, get the latest news and analysis delivered to your inbox Click here Parler was also banned from the app stores of both Google and Apple Inc after violating their policies in January 2021 following the U.S. Capitol insurrection. The app returned to the Apple platform in May 2021, but only returned to Google’s main app store last month. Parler is among a growing group of so-called alt-media sites that aim to give conservatives a forum to share views they feel are silenced on mainstream outlets. But the platforms have struggled at times to fulfill their users’ expansive definition of free speech while complying with app store policies. Last month, Rumble Inc., the conservative video network backed by billionaire Peter Thiel and venture capitalist and Republican Senate candidate J.D. Vance, became a publicly traded company through a deal with a blank-check firm. The shares rose as much as 40% during the company’s first day of trading and it is now worth $2.6 billion. Tesla Inc. CEO Elon Musk, who welcomed the rapper back to Twitter just hours before Ye’s account was locked, has decided to proceed with his offer to purchase Twitter after months of back-and-forth negotiations. Musk has said he will prioritize free speech on Twitter and criticized its decision to ban individuals such as former President Donald Trump for violating its rules. Trump’s rival platform Truth Social has been available in the Apple App Store since February but has yet to launch in the Google Play store. Parler CEO George Farmer is married to Candace Owens, a conservative influencer, and is the son of Michael Farmer, who is the founder of metal trader Red Kite Capital Management, a member of the U.K’s House of Lords and former treasurer of the Conservative Party. It is hard to gauge the early success of the alt-tech rivals to Instagram and Twitter. Parler was downloaded about 100,000 times according to data from Sensor Towner. In comparison, Instagram was downloaded about 57 million times. Ad Age Next: Streaming Get your tickets for the Nov. 10 event in New York and use the code AA50 for $50 off Register here It is also unclear how Ye intends to finance the deal. An unaudited balance sheet of his finances reviewed by Bloomberg last year showed that he had $122 million in cash and stock, with billions more in other assets such as Yeezy. His Yeezy business made $191 million in royalties from a sneaker deal with Adidas in 2020, Bloomberg previously reported. However, the artist has also launched high-profile fights via Instagram with his corporate partners, including Adidas and Gap. Ye has also recently caused controversy after wearing a shirt at Paris fashion week that said “White Lives Matter.” Ye’s user profile on Parler, linked from the press release announcing the deal, was created on Monday and as of 11:30 BST had 91 followers. —Bloomberg News

Ye to buy controversial social networking app Parler

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