“I formed Truth Social and the Trump Media and Technology Group (TMTG) to counter the tyranny of the tech giants,” Trump said in a statement, adding that his platform would be launched in the first quarter of 2022. The big companies in Silicon Valley have used their one-sided power to silence dissent in America, Trump added. He was ousted from Facebook, Twitter and YouTube following the January 6 attack on the US Congress. Before he was ousted, Trump had almost 89 million followers on Twitter, when he announced a number of presidential decisions, he had 35 million followers on Facebook and 24 million on Instagram. The Truth Social platform will be available in beta on call from November 2021, the statement said, while Trump’s new media group TMTG will also have an on-demand video service with entertainment programs and podcasts.
President Trump’s new company is a SPAC: A Special Purpose Acquisition Company. It’s chartered (and flush with $293Mil cash) with the express intent of acquiring and operating media assets. That could be social apps, but also cable channels, or other things. It is NOT just a social app. It will raise more money and begin announcing acquisitions soon. Initial valuation posted at $1.7B.
President Trump made it clear that his ongoing ban from Twitter played a big part in his decision to create his own platform
‘I am excited to send out my first TRUTH on TRUTH Social very soon’
President Donald Trump has announced that he will launch his own social media app and news company to compete with “big tech”.
The move comes nine months after he was banned from several social media platforms for his role in the 6 January US Capitol riots that left five people dead.
The new company, named Trump Media & Technology Group, will launch its own app called “TRUTH Social”.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. We live in a world where the Taliban has a huge presence on Twitter, yet your favourite American President has been silenced. This is unacceptable,” Mr Trump said in a press release.
“I am excited to send out my first TRUTH on TRUTH Social very soon. TMTG was founded with a mission to give a voice to all. I’m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn’t someone stand up to Big Tech? Well, we will be soon!” he added.
TRUTH is currently or pre-order in the Apple app store and will only be available to invited guests during a Beta launch in November. The social media platform will be officially launched for everyone in America early next year.
As President, he was an enthusiastic social media user and posted frequently about everything from foreign policy to diatribes targeting his rivals. He was banned from Twitter and other social media platforms after the Capitol riots, amid scrutiny of his role in incitement and repeated unsubstantiated claims of voter fraud.
Before his profile was taken down, his tweets and posts were often marked as fake news.
President Trump has been talking about creating a new platform since then. He also began a blog on his existing website, which was later abandoned after poor reach.
The company is a merger with Digital World Acquisition Corp, will be publicly listed on Nasdaq next month.
President Trump also intends to roll out a video-on-demand service with entertainment, news and podcasts.
Join the Truth Social Waiting List - Vsit Site: https://truthsocial.com