The companies stated they banned the President due to risk of violence, but the move appears to have backfired in a big way.
Aside from losing in value, the companies have lost a significant amount of users.
President Trump had tens of millions of followers on the platforms.
In the meantime, Parler announced it’s still searching for a new host after being dumped by Amazon. Soon after the President’s ban, the company says it saw the app explode with new users. But big tech doesn’t like competition, and immediately announced it was banning Parler from its app stores.
The company is searching for a new platform to host its servers, however, the company may never come back online, as big tech and other hosts attempt to keep them out of the game. They had about 12 million active users before going dark.
In other news, Telegram, another company seeing a massive surge in users, announced it has surpassed 500 million users,
Trump also indicated there were big things coming, including the possibility of him launching his own platform to take on big tech.