Kanye West is no longer buying the right-wing social media platform Parler, the firm said, just a month after the tie-up was first announced.
Parler’s chief executive announced on social media decision was made “in the interest of both parties”.
The rapper, who has changed his name to Ye, has been widely criticised after making a series of anti-Semitic remarks.
In the aftermath of his controversial statement, firms including Adidas and Gap stopped working with him.
“The company has mutually agreed with Ye to terminate the intent of sale,” Parlement Technologies said in a statement.
The firm said the decision was made in mid-November.
West had his Instagram and Twitter accounts restricted last month over the anti-Semitic content of his posts.
Twitter recently reinstated his account after Elon Musk took over the social media platform. However, Mr Musk suspended Ye’s account today after his latest post saying he “again violated rule against incitement to violence.”
Parler, which is a much smaller platform, is popular with conservatives and the far right, and styles itself as a “free speech” alternative to mainstream platforms.
“Parler will continue to pursue future opportunities for growth and the evolution of the platform for our vibrant community,” the firm said in its statement.