“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.”
Former President Donald Trump announced his Trump Media & Technology Group (TMTG) merged with Digital World Acquisition Corp. TMTG will launch a new social media platform called TRUTH Social in early 2022.
Twitter and Facebook banned Trump after the January 6th riots.
🚨President Donald J. Trump Announces Trump Media & Technology Group🚨
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech…
I am excited to send out my first TRUTH on TRUTH Social very soon…” pic.twitter.com/TCZVYq1VJQ
— Liz Harrington (@realLizUSA) October 21, 2021
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” boasted Trump. We live in a world where the Taliban has a huge presence of Twiiter, yet your favorite American President has been silenced. This is unacceptable.”
Trump continued: “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!”
The announcement said that merging TMTG with Digital World Acquisition will allow the former “to become a publicly listed company, subject to regulatory and stockholder approval.”
“The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination,” said the press release.
The initial funds will come from Digital World Acquisition’s “cash in trust of $293 Million.”
TRUTH Social comes out in 2022, but you can preorder it in App Store. It includes TMTG+, a subscription service meant to rival YouTube. Trump promises “non-woke” entertainment.
I believe this is Trump’s third attempt to launch a social media platform to rival Facebook and Twitter.
In May, Trump published a personal blog on his website. No one could respond to his posts, but they could like and share them. He shut it down after a month, but an aide described it as a “precursor” to something bigger.
In July, Trump’s team started GETTR, a social media platform described as a “cancel-free zone.” It sounds a lot like Twitter. I never used it.
I wonder if GETTR is not performing well, leading to another platform. Maybe the third time is a charm?DONATE
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