Trump to launch own social media platform for the 'non-woke'
Former President Donald Trump was booted off of Big Tech social media platforms and his blog met an untimely demise too. Like a proverbial phoenix rising from its ashes, Trump has announced an entirely new media company and plans to launch his own social media and OTT content platforms. The new ventures are expected to be fully operational before the 2022 mid-term elections.
Facebook, Twitter had banned Trump's accounts after Capitol Hill events
Following the January 6 Capitol Hill riots and an inelegant departure from office, Trump was permanently banned from Facebook's platforms and Twitter. While Facebook was involved, it was Parler, a social media platform dedicated to free speech, that Big Tech blamed for allowing the riots. Whistleblower Frances Haugen later corroborated the role of the Mark Zuckerberg-led social media giant in the riots.
After blog's untimely end, TRUTH Social is in the pipeline
Shortly afterward, Trump announced plans to run an independent blog called "From the Desk of Donald J. Trump". The blog was, however, shut unexpectedly in June. Now, the ex-president's TRUTH Social platform owned by Trump Media & Technology Group (TMTG) is expected to be launched in beta for "invited guests" next month. TMTG said TRUTH Social is available on Apple App Store for pre-order.
Platform would be Trump's answer to Big Tech's actions
While in office, Trump used Twitter extensively to engage with the masses - a tool he lacks since January. "I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech," he said. Trump continued that "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."
TMTG estimated to have $1.7 billion post-merger valuation
As for TMTG's financials, it will reportedly merge with blank cheque firm Digital World Acquisition Corp (DWAC) to make TMTG a publicly listed company. According to a statement, DWAC said the transaction valued TMTG at $875 million with a potential additional earnout of $825 million in shares. This brings the cumulative valuation to $1.7 billion subject to stock performance after the businesses combine.
TRUTH Social will be fully operational before 2022 mid-term polls
TRUTH Social is expected to be fully operational before the mid-term election next year. On its sidelines, TMTG is also planning to launch a subscription-based video-on-demand service that will serve "non-woke" entertainment. The platform will be led by Scott St. Johnson, an executive producer from America's Got Talent and Deal or no Deal. No launch dates for the platforms are available at this time.
