Trump announces plans to launch his own social media platform
Photo: CHRIS DELMAS / AFP / Getty Images
The ex-president Donald trump announced Wednesday that it will launch its own media network, including a social media platform called “TRUTH Social”, according CNBC.
The application seems to be the first project of Trump Media and Technology Group (TMTG), which will be listed on the Nasdaq through a merger with Digital World Acquisition Group, according to an announcement tweeted by spokeswoman Liz Harrington. Transaction values TMTG by as much as $ 1.7 billion, according to Harrington.
The new company, which includes in its address the private membership club of Trump, Mar-A-Lago, It will be chaired by the former president, who says that “the mission of this group is to create a rival for the liberal media consortium.”
“We live in a world where the Taliban have a large presence on Twitter, but their favorite American president has been silenced,” he said. Trump.
Trump was totally banned by the major social media giants earlier this year, following his posts relating to the January 6 storming of the United States Capitol and his statements of voter fraud.
The move is not surprising. Trump has hinted for months that it might launch its own social media app to rival Facebook and Twitter.
According to the press release, the TRUTH Social app is currently available for pre-order on the Apple App Store, and a beta version will be available to guests starting in November 2021. A nationwide launch is expected in the first quarter of 2022, according to the statement.
The statement also noted that TMTG intends to launch a video-on-demand subscription service that would include entertainment programming, news and podcasts.
For those who sign up online to receive emails from TMTG, the terms of service require users to sign that they waive their right to file a class action lawsuit.
Digital World Acquisition Group has not yet filed information with the Securities and Exchange Commission regarding this merger with TMTG.