Jan 7, 2022 - Economy

Conservative social media app Parler raises $20 million

Parler app on a phone

Photo: Jaap Arriens/NurPhoto via Getty Images

Parler, the social media app that was temporarily booted from app stores in the aftermath of the Jan. 6 Capitol riot, has raised $20 million in new funding, according to a filing with federal securities regulators.

Why it matters: This is part of a growing effort by conservatives to build their own social media ecosystem.

  • Examples include Gettr, Rumble and former President Trump's own social media platform, Truth Social, which is expected to launch on President's Day.

Parler's founding investor is Rebekah Mercer, a Trump supporter and major Republican donor, who is listed on the SEC filing as both a director and executive officer.

  • One new listed is director is Seth Dillon, CEO of right-wing parody site The Babylon Bee.
  • It is not clear from the filing who provided the new capital. Axios has attempted to contact Parler, and will update this story if we hear back.

Go deeper: Ousted Parler CEO feels "betrayed" by Rebekah Mercer

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