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Parler to be acquired by digital media company Starboard, shut down temporarily

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Parler, a platform that emerged out of the social media backlash of the Trump period, has been acquired by a brand new firm that plans to quickly shut it down. Digital media conglomerate Starboard, which just lately modified its identify from Olympic Media, announced on Friday that it has acquired Parler and plans to quickly shut it right down to launch a revamped model of the social community.

The monetary phrases of the deal weren’t closed. Starboard anticipates that the acquisition can be accretive by the top of the second quarter of 2023.

“Parler’s massive person base and extra strategic property symbolize an infinite alternative for Starboard to proceed to construct aggressively in our media and publishing enterprise,” mentioned Starboard CEO Ryan Coyne in a press release. “The workforce at Parler has constructed an distinctive viewers and we look ahead to integrating that viewers throughout all of our current platforms.”

Based in 2018, Starboard owns conservative-leaning platforms American Wire and BizPac Overview. Coyne says the Arlington, Virginia-based firm believes developments in AI and the additions of latest options will permit Parler to “start servicing unsupported on-line communities.”

The announcement comes months after an acquisition settlement between Parler and Kanye West, who know goes by Ye, fell via. Parler’s proprietor and Ye had “mutually” parted methods with out closing the deal, the social community had mentioned on the time.

Parler rose to recognition in 2021 across the time of the January 6 riot, after social media corporations like Twitter and Fb banned former President Donald Trump from their platforms. Lots of his supporters flocked to Parler, which had less stringent group tips.

The social community rose to No. 1 on the App Retailer days after the riot, however had been eliminated from Google Play on January 8, 2021. Amazon and Apple quickly eliminated Parler from their platforms shortly after as effectively. Parler was later reinstated on Apple and Google’s app shops after making adjustments to its moderation practices.

Final September, Parler revealed that it had restructured into Parlement Applied sciences and purchased a cloud firm referred to as Dynascale to be able to broaden its imaginative and prescient past providing a social media app to supply infrastructure for companies that run the danger of getting the boot from mainstream suppliers.

Parler is considered one of many platforms, together with Gettr and Reality Social, which have cemented themselves as free-speech alternate options to common social media networks. One other competitor to Parler may very well be Twitter, which was acquired by Elon Musk final yr. For the reason that acquisition, the social media community has develop into extra lax in its insurance policies, and has additionally reinstated Trump, although the previous president has but to tweet from the account.

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