LOS ANGELES (Reuters) – Former U.S. President Donald Trump will launch his personal social media app, TRUTH Social, that he stated would “stand as much as Massive Tech” corporations reminiscent of Twitter (NYSE:) and Fb (NASDAQ:) which have barred him from their platforms.
TRUTH Social might be created via a brand new firm fashioned by a merger of the Trump Media and Know-how Group and a particular acquisition firm, in response to a press launch https://www.tmtgcorp.com/press-releases/announcement-10-20-2021 distributed by each organizations.
“We stay in a world the place the Taliban has an enormous presence on Twitter, but your favourite American President has been silenced. That is unacceptable,” Trump stated within the written launch.
“I’m excited to ship out my first TRUTH on TRUTH Social very quickly. TMTG was based with a mission to present a voice to all. I am excited to quickly start sharing my ideas on TRUTH Social and to struggle again in opposition to Massive Tech,” he stated.
A Trump consultant who declined to be named confirmed the contents of the TMTG information launch to Reuters. Trump spokesperson Liz Harrington additionally tweeted a duplicate of the discharge.
In response to the discharge Trump Media and Know-how Group and Digital World Acquisition Corp. would merge right into a single publicly traded firm if accepted by regulators and stockholders.
The deal values Trump Media & Know-how Group at $875 million, together with debt, in response to the assertion. Trump Media & Know-how Group’s development plans initially might be funded by DWAC’s money in belief of $293 million.
TRUTH Social plans a so-called Beta Launch for invited visitors in November, adopted by a nationwide rollout within the first quarter of 2022.
The brand new firm additionally has plans for a subscription video-on-demand service that includes leisure programming, information and podcasts.
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