U.S. rapper Kanye West, now known as Yee, has agreed in principle to acquire Parlor, the social media platform popular with conservatives, parent company Parliament Technologies said on Monday.
As Part Of An Overhaul Last Month, Parler Established A New Parent Company, Parlement Technologies Inc.
In an interview with Reuters on Monday, Parlement Technologies chief executive George Farmer said contract negotiations with Ye began recently following his fashion week in Paris.
Ye, who is also a fashion designer, wore a T-shirt reading “White Lives Matter” in Paris on Oct. 3.
Four days later, he posted on Instagram what some Jewish groups called anti-Semitic. Meta Platforms (META.O), which owns Instagram and Facebook, has suspended Ye’s Instagram account for his posts.
The move comes after Ye was banned from his Twitter Instagram account for anti-Semitic remarks.
In one post, Ye played out a long-standing anti-Semitic conspiracy theory that his fellow rapper, Sean “Diddy” Combs, is controlled by Jews.
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Meanwhile, On Twitter, The Account Was Restricted After Ye Said He Was Performing “Death Con 3 Of Jewish People”.
A representative for Ye did not immediately respond to a request for comment. Ye told Bloomberg News that he was motivated to buy Parlor after Instagram and Twitter punished him.
He also refused to disclose the terms of the deal to the outlet.
Ye’s Net Worth Is Reportedly $2 Billion.
Much of his wealth comes from his sneakers, his brand Yeezy, and partnerships with Gap. and Adidas. However, Ye recently cut ties with Gap and said Adidas is also reviewing its relationship with him.
Parlor is one of several pro-rights platforms that have emerged during the Donald Trump era, as supporters of the former president have claimed unfair treatment from Twitter and other apps.
There’s also Gettr, run by former Trump adviser Jason Miller, and Trump’s own app, Truth Social.
Truth Social’s parent company is under federal investigation for an IPO. Conservative video platform Rumble went public last month.
Originally his 2018-launched Parlor was embroiled in controversy last year over his role in the January 6, 2021, Capitol Riot.
The result has been many technology companies, including Google. and Amazon Blacklist a service to prevent access to its apps and websites. But in September, Google said it reintroduced the app to the Play Store and changed some of its content moderation and enforcement policies.
Apple restored the app to its App Store platform in April 2021.
His Nashville-based Parler, Which Has Raised About $56 Million To Date, Said It Expects The Deal To Close In The Fourth Quarter Of 2022.
Launched in 2018, Parler has been reintroduced in the Google and Apple Inc. app stores after being taken down after the January 2021 Capitol riots.
Parler is one of his social media platforms, including Gettr, Gab and Truth Social, which has established itself as a free speech alternative to Twitter Inc (TWTR.N).
As part of an overhaul last month, Parler established a new parent company, Parlement Technologies Inc. In an interview with Reuters on Monday, Parlement Technologies chief executive George Farmer said contract negotiations with Ye began recently following his fashion week in Paris.
Ye, who is also a fashion designer, wore a T-shirt reading “White Lives Matter” in Paris on Oct. 3. Four days later, he posted on Instagram what some Jewish groups called anti-Semitic. Meta Platforms (META.O), which owns Instagram and Facebook, has suspended Ye’s Instagram account for his posts.