Kanye’s New Purchase – Parler Gets Acquired 💬

Kanye’s New Purchase – Parler Gets Acquired

Amid the countless rows and disputes over hip-hop artist Kanye West, the A-list celebrity has just purchased Parler, a Libertarian social media Platform. This acquisition comes shortly after several controversial statements and photos were expressed by West in the ongoing debate on free speech. Parler, which is popular with conservatives, is a social media service and application meant to offer a communication platform without judgment or censorship. The app was launched in 2018 as a competitor to Twitter, however, with a unique value proposition as a free speech social network. The deal was confirmed by Parler’s parent company Parler Technologies, but they have yet to disclose the financial details of the purchase.

The move by Kanye resembles a trend started by the wealthier, and arguably more popular, Elon Musk. Musk has been in a months-long battle to acquire Twitter in a bid to deregulate the company’s moderation of the platform. Another billionaire promulgating this movement is Ex-President Donald Trump, who also launched his social media own platform, Truth Social. With the massive market share that companies like Twitter and Meta hold over the social media platform industry, it will be interesting to see if unmoderated companies such as these can attract enough users to get a slice of the $295 billion pie.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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