Trump announces social media platform launch plan, SPAC contract

Former President Donald Trump speaks with supporters at a rally at the Iowa State Fairgrounds on October 9, 2021 in Des Moines, Iowa.

Scott Olson | Getty Images

Former president Donald Trump He announced on Wednesday that he would launch his own media network, including a social media platform called “TRUTH Social,” to “confront Big Tech’s tyranny.”

The app appears to be the first project of the Trump Media and Technology Group (TMTG), which will be listed on NASDAQ through a merger with Digital World Acquisition Group. Announcement tweeted by spokeswoman Liz Harrington.. The deal values ​​TMTG up to $ 1.7 billion, Harrington said.

The new company, whose address is Mar-a-Lago, Trump’s private membership club, is chaired by the former president, who said, “The group’s mission is to create rivals for the liberal media consortium.”

“We live in a world where the Taliban have a big presence on Twitter, but your favorite American president is silent,” Trump insisted.

Trump was banned by the infamous Major social media giants earlier this yearFollowing his post related to the January 6 riots at the US Capitol.

This move is not a complete surprise. For months, Trump and his team of advisors have dropped hints that they may launch their own social media apps comparable to Facebook and Twitter.

According to a press release, TRUTH Social is currently available for pre-order on the Apple App Store and will be available in beta to invited guests starting November 2021. It is scheduled to be rolled out nationwide in the first quarter of 2022. Said.

The release also states that TMTG will launch a subscription video-on-demand service featuring “unawakening” entertainment programming, news and podcasts.

If you register online and receive emails from TMTG Terms of use To waive the user’s right to file a class action proceeding.

The Digital World Acquisition Group has not yet submitted anything to the Securities and Exchange Commission regarding the merger.

— CNBC’s Christina Wilkie contributed to this report.

Trump announces social media platform launch plan, SPAC contract

Source link Trump announces social media platform launch plan, SPAC contract

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