Trump plans to launch new social media platform

Posted on October 21, 2021, 6:17 am
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WASHINGTON: Months after being banned on the biggest social media platforms Twitter and Facebook, former US President Donald Trump has announced to launch his own social networking platform called ‘TRUTH Social’.

According to the details, Trump’s social media platform is expected to begin its beta launch for “invited guests” next month.

It will be owned by Trump Media & Technology Group (TMTG), which also intends to launch a subscription video-on-demand service that will feature “non-woke” entertainment programming, the group said in a statement.

“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,” it stated.

 “I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” Trump said in a statement.

“We live in a world where the Taliban has a huge presence on Twitter, yet your favourite American President has been silenced. This is unacceptable,” he continued. 

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