Former President Donald Trump has announced his new “TRUTH Social” project, a new social media network to launch later this year.
Trump Media & Technology Group (TMTG), a newly established company owned by the 45th President, announced today that TRUTH Social will begin a beta launch for invited guests in November 2021, with a full debut expected within the first quarter of 2022.
The new “TRUTH Social” network aims to “stand up to the tyranny of Big Tech.” Trump, who is serving as the chairman of TMTG, noted in a statement that the new social platform will give a voice to all.
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 favorite American President has been silenced. This is unacceptable.
Trump indicated that pieces of content on the new social media network will be referred to as a “TRUTH,” apparently as Twitter has “tweets.” He said he’s excited to begin fighting back against Big Tech.
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!
Trump’s press release noted that TMTG has entered into a definitive merger agreement with Digital World Acquisition Corp. that will see TMTG become a publicly listed company, subject to regulatory and stockholder approval. The transaction values TMTG at an initial enterprise value of $875 million, with a potential additional earn-out of $825 million in additional shares, for a cumulative valuation of up to $1.7 billion depending on the performance of the stock price post-business combination. TMTG’s growth plans will initially be funded by DWAC’s cash in-trust of $293 million.
The “TRUTH Social” app is now available for pre-order in the Apple App store. People interested in joining the network may now visit truthsocial.com to sign up for the invite list for the November beta launch.
What do you think about the idea of Trump’s new social media network? Do you plan on joining, and do you think it might help him if he decides to run in 2024?
Sound off in the comments section below!