Ye, formerly known as Kanye West, plans to acquire Parler, a Twitter-like social media app that has become a haven for conservatives.
Why it matters: In a statement, Ye said he's buying the platform to ensure people with conservative opinions "have the right to freely express ourselves" online.
- Earlier this month, Ye's Instagram and Twitter accounts were restricted in response to antisemitic posts.
Details: In a statement, Parler's parent company Parlement Technologies said it has entered into "an agreement in principle" to sell Parler to Ye for an undisclosed amount.
- "The proposed acquisition will assure Parler a future role in creating an uncancelable ecosystem where all voices are welcome," the company said in a statement.
- Under the terms of the agreement, Parler has agreed to sell fully to Ye, but Parler will continue to receive technical support from Parlement Technologies, including access to its private cloud services and its data center infrastructure.
- Ye has already created an account on Parler but has yet to post anything.
Catch up quick: Parler was created in September 2018 as a free speech alternative to apps like Twitter and Facebook. The app was de-platformed from Google and Apple's app stores in January 2021, following the January Capitol siege.
- It was reinstated by Apple in April of last year and it only returned to Google's app store last month.
- Parler raised $20 million in new funding in January. The app's founding investor is Rebekah Mercer, a Trump supporter and major Republican donor.
What's next: In a statement, Parler said it expects the deal to close later in 2022.
Go deeper: Billionaires eye parallel media universe
Editor's note: This is a developing story. Please check back for updates.
