Ye, more known as Kanye West, will not be acquiring Parler. The social media app is an alternative to Twitter, also advocating for "free speech." The deal was initiated after Ye's suspension on Twitter. In October, the rapper made a deal with Parlement Technologies to buy the Twitter alternative app for an amount that has not been shared with the public.
Why Did The Deal Fall Through?
Although both parties did not explicitly say the reason why the deal was called off, speculations say that it's because of Kanye's antisemitic remarks in a podcast with Alex Jones. The record producer stated that he liked Hitler, and praised Nazis, according to Engadget. This has sparked backlash and caused multiple brands to cut ties with Ye.
The deal fell apart in November. Parler posted on Twitter, saying that the termination of the sale was mutually agreed upon in the interest of both parties. They added that the social media app will continue to pursue future opportunities for the growth and evolution of the platform for their vibrant community.
A Parler spokesperson did mention something about the termination of the deal. His vague statement expressed that it was about Ye's ongoing business difficulties. It means it might be the fact that Ye's net worth has dropped following the controversy of his wildly unappreciated comments.
The Fall of Ye
Parlement Technologies is not the first to cut ties with the Grammy award-winning artist. Although some companies said that it had nothing to do with his antisemitic rants, many believe that it is indeed the reason. JPMorgan Chase Bank was among the first to part ways with Ye, as mentioned in XXL Mag.
However, an insider said that it had nothing to do with his biggest controversy yet. Ye had a fallout with the bank even before the Nazi-related remarks, with reports saying that he was angry since the bank allegedly refused access to the bank's CEO and chairman, Jamie Dimon.
Around October, Balenciaga also decided to sever ties with the rapper, announcing it in Women's Wear Daily. They did not hide the fact that it was Kanye's allegedly antisemitic behavior that prompted the termination of the deal. They expressed that they will no longer have future plans related to Ye.
Vogue was also among the companies that let Ye go, even despite having a close relationship with the icon. Anna Wintour, Vogue's Editor-in-Chief, expressed that it wasn't just the antisemitic remarks but because of the "White Lives Matter" controversy as well. Ye supposedly attacked one of their editors for her criticism of Ye wearing the "White Lives Matter" shirt.
Even his talent agency decided to terminate their relationship with the artist, wherein a source revealed to Los Angeles Times that it was also due to his remarks about Nazis. Ari Emanuel, CEO of Endeavor, another big name in the entertainment industry, also encouraged others not to sign with Ye.
The biggest loss perhaps is his deal with Adidas, as they were Ye's producer for Yeezys. Adidas was very open about their disapproval of Ye's statements of hate speech. They expressed that it was unacceptable, hateful, and dangerous, as well as violating the company's values of diversity and inclusion.
