Parler Net Worth: The BBC says that Kanye West, now going by Ye, has agreed to purchase the conservative social media platform, Parler, leaving users to speculate on the app’s value. George Farmer, a British conservative who is married to the American right-wing activist Candace Owens, is the current leader of Parler. On May 1, 2021, Farmer became Parler’s new CEO.
The rapper’s Instagram and Twitter accounts were suspended after an anti-Semitic rant, so this arrangement comes at a good time for him. The deal for Kanye to buy the app should close before the year is out, but how much is Parler worth? What we know is as follows.
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Who Is Parler?
Launched in August 2018, Parler markets itself as a free speech-focused and unbiased alternative to mainstream social networks like Twitter and Facebook. Journalists have described Parler as an alt-tech alternative to Twitter, and users include those banned from mainstream social networks or who oppose their moderation policies.
Journalists have claimed this is a front for the site’s far-right audience. They have also questioned the site’s content restrictions, saying they are more stringent than the firm makes it seem and, in some cases, even more so than those of the site’s competitors.
In 2020, Parler had explosive growth despite a lack of content regulation, with reports of it being used to coordinate the 2021 assault on the United States. According to Parler, the service had about 15 million users before it went offline in January 2021.
Parler called the removals “a coordinated attack by the tech giants to kill competition in the marketplace.” Capitol, several companies denied it their services. Apple and Google removed Parler’s mobile app from their app stores, and Parler went offline on January 10, 2021, when Amazon Web Services cancelled its hosting services.
Former Tea Party activist Mark Meckler served as interim CEO of Parler from February to May 2021, before Brexit Party donor and ex-candidate George Farmer were named CEO. Founder and CEO John Matze was the company’s chief executive officer until January 29, 2021, when he claimed he had been fired by the company’s board, which he asserted was controlled by him.
If ye can raise the valuation of Parler pass 5 billion, he’s gonna be able yo sell that shit for about 7-10 billion… probably won’t download Parler but it’s cool that he bought a social media company.. Tech is the best way to raise your net worth
— dabba (@dabbajones) October 18, 2022
Is Kanye West The “Richest Black Man In History”?
It is stated in Parler’s news release. He says his fortune is $10 billion. Several sources said in 2021 that he was worth $6.6 billion. However, the numbers from Forbes don’t support that. The vast majority of Ye’s wealth is assumed, with estimations comprising the money he is likely to make rather than the money he presently possesses.
Parler Net Worth of $1.5 billion comes primarily from sales of his Yeezy footwear brand. The remainder of his wealth is estimated at roughly $300 million and includes his homes, personal belongings, jewels, artwork, music catalogue, and more. You can look Aliko Dangote, a Nigerian millionaire, up on any list of the richest Black men and you’ll find him at the top. Robert F. Smith is an American businessman and investor.
Is Parler Still Offline?
Parler’s app was down for weeks after the violence in the Capitol, and its creator, Matze, explained that the company was trying to fix the problems that had caused the outage. Parler’s site was offline for a while, however, it has been restored as of January 16th.
After receiving death threats in the wake of the deadly US Capitol incident, Matze appeared to come out of hiding at the time. Both Apple and Amazon confirmed the removal of Parler from their respective app stores and web hosting services on January 10. They acted just days after Google did something quite similar.
Apple and Amazon said that the social networking service had a large number of members who held conservative political views, and they accused Parler of not doing enough to stop the spread of posts inciting violence.
A lawsuit was filed by Parler against Amazon after the latter decided to no longer host the app on its cloud platform. Amazon retorted that Parler had “no legal grounds to suit,” and that its staff had also been subjected to threats and abuse.
Parler Net Worth
According to Pitchbook and Crunchbase, Parler is a privately held social media platform that supports users’ right to free expression. It has raised $56 million in total, throughout three funding rounds.
Founder and former CEO John Matze revealed to Business Insider India in November 2020 that Rebekah Mercer (daughter of Trump supporter Robert Mercer) had been one of Parler’s major investors since 2018. Rebekah stated in a blog post, “John and I founded Parler to provide a neutral forum for free speech, as our founders intended.”
According to publicly available documents, Mercer was the primary investor in all three of Parlor’s investment rounds. On September 16, 2022, for $16 million, Parlor announced that it will buy a private company in California to become what is now known as Parlement Technologies.
It is important to remember, however, that Parler Net Worth is not equivalent to his funding. Parler’s valuation was “approaching $1 billion” in March 2021, according to court records filed by the company’s lawyers, when the app had over 12 million users.