Former US president Donald Trump declared plans Wednesday to launch his own social network, in his new turn to recover his web predominance after he was banned from Twitter and Facebook in the wake of the rough Capitol uprising.
“TRUTH Social” will be possessed by Trump Media and Technology Group (TMTG), and is likely to start its beta launch for “invited guests” one month from now. It is as of now accessible for pre-order in Apple’s App Store, the group stated.
TMTG additionally expects to launch a membership video on-request service that will highlight “non-woke” amusement programming and will be driven by Scott St. John, an executive produce maker from “Deal Or No Deal” and “America’s Got Talent,” said the statement.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” Trump, who was banned from Twitter and Facebook for stirring up the assault at the US Capitol on January 6, was cited as saying in the statement.
“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,” he added.
The Trump Media and Technology Group will combine with blank check company Digital World Acquisition Corp (DWAC) to make TMTG an openly recorded organization, the statement further said.
“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 also stated.
“Given the total addressable market and President Trump’s large following, we believe the TMTG opportunity has the potential to create significant shareholder value,” said DWAC chief Patrick Orlando.
The former US president Donald Trump has been searching for ways of recovering his web bull horn, launching several claims against the prevailing web-based media giants, who have restricted him from their platforms.
For quite a long time, Trump, who used Twitter specifically as an explanatory weapon during his administration, has struggled tech giants whom he argues have unfairly controlled him.
The free-discourse battle raised when Facebook, Twitter, Instagram and the remainder of the world’s dominant social media platforms restricted him for inciting up the crowd that ransacked Congress.
From that point onward, Trump has been searching for ways of recovering his web dominance, a few claims against the tech giants.
In May, he launched a blog called “From the Desk of Donald J. Trump,” which was promoted as a significant new outlet – yet he pulled it from the web simply a month after the fact.
Trump’s former assistant Jason Miller launched an informal organization called Gettr recently, yet the Republican has not yet joined it.
Soon after TRUTH Social was declared, Miller congratulated Trump on “Re-entering the social media fray.”
“Now Facebook and Twitter will lose even more market share,” he stated as tweeted by Gettr.
Facebook banned Trump on January 7 over his incendiary remarks that went before the Capitol rebellion, later narrowing the ban to two years.
Twitter immediately followed, forever suspending Trump’s account – which had in excess of 88 million followers at that point – due to the “risk of further incitement of violence.”
Trump has started holding public events, including campaign style rallies, as he tries to stay the country’s most compelling Republican.
He has prodded an expected 2024 presidential run yet has made no declaration on his political future.