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Nashville-based Parler, which has raised about $56 million till
date, said it expects the deal to close during the fourth
quarter of 2022. It did not give a deal value.
The deal comes as Parler, launched in 2018 and styled itself as
a free-speech space for those seeking an alternative to
platforms such as Twitter Inc, has been reinstated on Google and
Apple Inc's app stores after being removed following the U.S.
capitol riots in January 2021.
Ye, also a fashion designer, has in the past few weeks
terminated his partnership with apparel retailer Gap Inc, while
German sporting goods maker Adidas has put its business
partnership with the rapper under review.
The rapper has also had problems with major social media
platforms, being restricted a number of times.
Most recently, West was locked out of his Instagram by Facebook
parent Meta Platforms for posts that online users condemned as
anti-Semitic. He then moved to Twitter, posting for the first
time in two years.
"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.
Ye seemed to have joined Parler on Monday and had about 91
followers at the time of the announcement.
The American rapper had announced in 2020 that he would run for
U.S. President in an apparent challenge to former U.S. President
Donald Trump, but later pulled out.
Parler has also garnered traction from supporters of Trump.
Last month Parler created a new parent company, Parlement
Technologies Inc as part of an overhaul.
(Reporting by Tiyashi Datta and Nivedita Balu in Bengaluru;
Editing by Savio D'Souza and Dhanya Ann Thoppil)
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