An Alternative to Mainstream Social Media Companies
The privately-held social media startup company, founded in 2018 by entrepreneurs John Matze and Jared Thompson, raised an undisclosed amount in an angel round by investors Robert and Rebekah Mercer.
Robert Mercer is the former co-CEO of investment management company Renaissance Technologies and founder of data mining and analytics company Cambridge Analytica. Rebekah Mercer, daughter of Robert Mercer, serves as a member of the Board of Trustees for the Heritage Foundation, “an organization whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.”
The social media startup seeks to provide an alternative platform for users who do not wish to use companies such as Facebook and Twitter. Furthermore, the budding business emphasizes its mission to protect user data and privacy.
“John and I started Parler to provide a neutral platform for free speech, as our founders intended, and also to create a social media environment that would protect data privacy,” Rebekah Mercer stated in a post on Parler. “The ever increasing tyranny and hubris of our tech overlords demands that someone lead the fight against data mining, and for the protection of free speech online. That someone is Parler, a beacon to all who value their liberty, free speech, and personal privacy.”
According to Forbes, the startup’s app had over a million users in June 2020. After Twitter and Facebook banned the president’s social media accounts, the app jumped up to the number one spot in the Apple App Store.
Parler’s privacy-oriented business has garnered a significant following. In general, the social media industry is booming. The global social media analytics industry was valued at $3.58 billion in 2020 and projected to grow to $15.57 billion by 2025 at a compound annual growth rate (CAGR) of 34.1%. Furthermore, the global web hosting services industry was worth $56.7 billion in 2019 and is expected to grow at a CAGR of 15.5% through 2027.
Social media startup Parler was picked up by a new web-hosting company, Epik Inc. The budding business prioritizes the privacy and security of user data while offering an alternative platform outside of big-name companies in the industry like Facebook and Twitter.
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.