Parler Net Worth: According to the BBC, Ye, formerly known as Kanye West, has agreed to buy Parler, a conservative social media platform, forcing users to ponder the app’s worth. The current head of Parler is British conservative George Farmer, who is wed to American right-wing activist Candace Owens. Farmer was appointed Parler’s new CEO on May 1, 2021.
The rapper’s suspension from Twitter and Instagram following an anti-Semitic tirade makes this arrangement timely for him. How much is Parler worth? The deal for Kanye to purchase the app should be finalized before the end of the year. Here is what we do know.
What Is Parler?
Parler, a free speech-focused and impartial alternative to popular social networks like Twitter and Facebook, was introduced in August 2018. Journalists have referred to Parler as an alternative to Twitter, which uses alternative technology. Its members include people blocked from other social media platforms or disagree with its moderation practices.
According to journalists, this is allegedly a front for the website’s far-right clientele. Additionally, they have questioned the site’s content limitations, claiming that these are more demanding than the company makes them appear and, in some circumstances, even more, challenging than those of the site’s rivals.
Despite the lack of content restriction in 2020, Parler saw tremendous growth, and there are rumors that it was used to plan the attack on the United States in 2021. Before going offline in January 2021, the service had roughly 15 million members, according to Parler.
Capitol, several corporations refused their services, and Parler referred to the deletions as “a coordinated attack by the tech titans to destroy competition in the marketplace.” The Parler mobile app was withdrawn from the Google Play and Apple app stores, and Parler stopped functioning on January 10, 2021, when Amazon Web Services stopped providing hosting.
Before Brexit Party donor and former candidate, George Farmer was chosen CEO, former Tea Party activist Mark Meckler served as Parler’s temporary CEO from February to May of 2021. John Matze, the company’s founder, and CEO, served as CEO until January 29, 2021, when he claimed he was ousted by the board of directors, which he claimed was under his control.
Is Parler Still Offline?
After the violence in the Capitol, Parler’s app was unavailable for weeks. Its inventor, Matze, explained that this was because the business was working to resolve the issues that had led to the outage. As of January 16, Parler’s website has been operational again after a brief period of inactivity. Also, check our trending articles, PittMoss Net Worth and Hot Tot Net Worth.
Matze appeared to come out of hiding at the time after getting death threats following the tragic occurrence at the US Capitol. On January 10, Apple and Amazon acknowledged that Parler had been removed from their respective app stores and web hosting services.
Just a few days later, Google took similar action. Apple and Amazon said that a sizable portion of the social networking site users had conservative political views, and they blamed Parler for not doing enough to prevent the spread of violent posts.
After Amazon chose to stop hosting the software on its cloud platform, Parler filed a lawsuit against the company. Amazon responded that Parler lacked “legal grounds to sue” and that its employees had also experienced threats and mistreatment.
Kanye West Agrees To Buy Social Media App Parler
Parent company Parlement Technologies announced Monday that American musician Kanye West, who now goes by Ye, has reached a preliminary agreement to purchase Parler, the social networking site favored by American conservatives.
According to Nashville-based Parler, the purchase is anticipated to finalize in the fourth quarter of 2022, which has raised approximately $56 million. It provided no real value. The 2018-released app Parler, was withdrawn from the Google Play and Apple Inc. shops after the U.S. January 2021 riots at the Capitol.
Gettr, Gab, and Truth Social are a few other social media sites that promote themselves as free-speech substitutes for Twitter Inc. Parler established a new parent company, Parlement Technologies Inc., as part of an overhaul.
The business talks with Ye started recently, after Paris Fashion Week, according to Parlement Technologies Chief Executive Officer George Farmer in an interview with Reuters on Monday. Ye, a fashion designer, wearing a “White Lives Matter” T-shirt in Paris on October 3; four days later, he posted on Instagram comments that some Jewish organizations deemed anti-Semitic.
Ye’s Instagram account was locked due to the posts by Meta Platforms, the company that owns Instagram and Facebook. Ye next switched to Twitter, where he made his first message in two years on October 8; Twitter quickly locked his account.
CEO Farmer said the Parler agreement came together swiftly, and Parlement was “given an opportunity.” Farmer declined to comment on whether the deal has a break-up fee if either party ends it, stating that the conversation about Instagram barring him was the “motivating factor” for him.
Adidas, a German sporting goods manufacturer, announced on October 6 that it is reconsidering its business relationship with the rapper. Ye had ended his deal with apparel retailer Gap Inc. in September. Farmer stated on Monday that he is not worried about Parler’s chances for advertising under Ye.
Ye (Kanya West) has agreed to buy Parler. Deal expected to close this year. Source: Fox News pic.twitter.com/8atMmvnqC6
— Pete Reilly 🇺🇸 (@petenet321) October 17, 2022
More advertisers want to advertise in this space, Farmer said, so I see this as a warning shot across the bow for businesses who wish to de-platform individuals. At the time of the announcement, Ye appeared to have joined Parler on Monday and had roughly 91 followers.
He has 3,900 presently. He said, “We have to make sure we have the right to openly express ourselves in a society where conservative beliefs are thought to be contentious. Farmer claims that 16.5 million people have signed up for Parler.
The platform reportedly had 11.7 million installations since its introduction, and Apptopia believes that 40,000 people use it daily. Ye is thought to be worth $2 billion by Forbes.
Parler Net Worth
Parler is a privately held social media network that protects users’ freedom to free expression, according to Pitchbook and Crunchbase. Through three funding rounds, $56 million has been raised for it.
Rebekah Mercer, the daughter of Trump backer Robert Mercer, has been a significant investor in Parler since 2018, according to the company’s founder and former CEO, John Matze. They spoke to Business Insider India in November 2020.
“John and I launched Parler to provide a neutral arena for free speech, as our founders intended,” Rebekah said in a blog post. All three of Parlor’s funding rounds were led by Mercer, according to publicly accessible documents.
To create what is now known as Parlement Technologies, Parlor stated on September 16, 2022, that it would pay $16 million to acquire a private company in California. But it’s crucial to remember that Parler’s Net Worth differs from his funding.
According to court documents submitted by the company’s attorneys, Parler’s valuation was “approaching $1 billion” in March 2021, when the app had more than 12 million users.
Final Lines
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