Parler, a social media platform that came to prominence during the Trump presidency, is set to be acquired by digital media giant Starboard. The new owners have announced that they plan to temporarily shut down the app while they work to introduce an updated version to the public. Financial details of the deal were not disclosed, but Starboard expects that it will have a positive impact by 2023.
The acquisition is being seen as a coup for Starboard, whose CEO Ryan Coyne expressed his excitement for the opportunity to expand their presence in the media and publishing business. He sees potential for Parler’s large user base and other strategic assets to be incorporated into their larger platform.
This occurred after plans for a deal between Parler and Kanye West, aka Ye, fell through. Parler has since been back on Google Play and the Apple App Store with improved moderation standards in place.
Parler started to gain traction among conservative-leaning commentators when major social media platforms started to crack down on Donald Trump and other controversial figures. Parler was the number one app on the App Store shortly after the January 6, 2021 insurrection, but then faced bans from Apple and Google as well as Amazon. As of late, other alternatives such as Gettr and Truth Social have emerged as competitors, as well as a newly purchased Twitter by Elon Musk which has adopted a less rigorous set of rules.
Starboard, formerly called Olympic Media, are a digital media conglomerate that owns American Wire and BizPac Review, two conservative-focused publications. Through this acquisition, Ryan Coyne believes that Artificial Intelligence capabilities as well as a variety of other features can help Parler better serve underrepresented online communities. In an effort to make this a reality, Parler has restructured into Parlement Technologies and acquired Dynascale, a cloud company.
Ryan Coyne is the current CEO of Starboard, a digital media conglomerate based in Arlington, Virginia. His extensive experience in the industry has earned him an extensive knowledge of the media and publishing landscape and he is looking forward to integrating the large user base that Parl has cultivated into their existing platforms. His vision is to help Parl better support underserved online communities through AI enabled features and innovations.
Elon Musk is an engineer, businessman, and investor. He is widely known for founding the electric car company Tesla and heading up the aerospace company SpaceX. He recently acquired the social media platform Twitter, which has since become more open in its policy standards. Musk invested in Starboard’s predecessor, Olympic Media, for an undisclosed sum.
