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Former President Donald Trump has officially announced new social media platform, called TRUTH Social. As of 10/21/2021 4:00am Trump Media & technology Group merged with Digital World Acquisition ($DWAC) now available for trading.
Trump Media slated to launch a social network platform, named “TRUTH Social”. In a nationwide rollout in Q1 2022. It also plans to launch a subscription-based video-on-demand service that will feature “non-woke” content.
Trump voiced concerns calling media companies Twitter and Facebook “fake news”. Trump personally banned from Twitter, Facebook and Youtube since January 6 for allegedly provoking a riot at the Capitol. YouTube’s ban would be lifted after the “risk of violence” decreases. Facebook said Trump could return soonest in 2023, and Twitter said its ban would be permanent.
This transaction values Trump Media & Technology Group at an initial enterprise value of $875 million. With a potential for a cumulative valuation of up to $1.7 billion. Therefore depending on the performance of the stock price post-merger, TMTG claims. TMTG initially will be funded by DWAC’s cash holdings of $293 million, according to the companies.
Truth Social App on Apple Store
TRUTH Social is America’s “Big Tent” social media platform that encourages an open, free, and honest global conversation without discriminating against political ideology
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
