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Conglomerate Starboard buys Parler, to shut down social media app temporarily

Posted: Fri Apr 14, 2023 6:14 pm
by pacman
Conglomerate Starboard buys Parler, to shut down social media app temporarily ... 023-04-14/

April 14 (Reuters) - Digital media conglomerate Starboard said on Friday it has bought Parler for an undisclosed sum and will temporarily shut down the social media app popular with U.S. conservatives to give itself time to roll out a revamped version of the platform.

The move comes months after the collapse of a deal that would have seen American rapper Kanye West, who now goes by Ye, buy the platform's parent company Parlement Technologies.


Alexandria, VA – April 14, 2023 – Starboard (Formerly, Olympic Media) announced today that it has concluded the acquisition of Parler, the world’s pioneering uncancelable free speech platform.

No reasonable person believes that a Twitter clone just for conservatives is a viable business any more. By refocusing on the cloud and IT infrastructure space George Farmer has done an exceptional job at successfully leading Parlement into a critically important industry where it has already begun to excel.

Starboard is the perfect home for the Parler brand and its longtime loyal users. “Parler’s large user base and additional strategic assets represent an enormous opportunity for Starboard to continue to build aggressively in our media and publishing business. The team at Parler has built an exceptional audience and we look forward to integrating that audience across all of our existing platforms.” said Ryan Coyne, CEO of Starboard.

While the Parler app as it is currently constituted will be pulled down from operation to undergo a strategic assessment, we at Starboard see tremendous opportunities across multiple sectors to continue to serve marginalized or even outright censored communities – even extending beyond domestic politics.

Advancements in AI technology, along with the existing code base and other new features, provide an opportunity for Starboard to begin servicing unsupported online communities – building a home for them away from the ad-hoc regulatory hand of platforms that hate them.

The terms of the acquisition are not being disclosed although Starboard expects the deal to be accretive by the end of Q2 2023.

About Starboard: Founded in 2018 by Ryan Coyne, Starboard (Formerly, Olympic Media) is a digital media conglomerate that houses business lines focused on digital advertising, fundraising, publishing, and consumer brands. The publishing vertical has expanded aggressively with several recent acquisitions amounting to several-hundred million engaged content consumers annually. Starboard was named the 13th fastest growing company in the nation on the INC 5000, and the fastest growing in advertising / media in 2021. Starboard is based in Arlington, Virginia.

Media Inquiries: Press@Starboard.Co