Former US President Donald Trump disclosed plans to unveil his social media platform called ‘TRUTH Social’ that has been made available for pre-ordering in the Apple App Store.
The platform will be launched through Trump Media & Technology Group (TMTG), according to a statement by the group, adding that the Beta launch “for invited guests” would begin in November 2021.
The networking platform will be created by TMTG – a newly birthed firm formed by a merger with Digital World Acquisition Corp (DWAC), a special acquisition company (SPAC).
According to the statement, the creation of TRUTH Social was in opposition to the “tyranny of Big Tech”, noting that there would be a nationwide rollout in the first quarter of 2022.
Trump, in the statement, said, “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.
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“This is unacceptable. 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!”
The merger values TMTG at an initial enterprising value of $875 million, while TMTG will receive a total of $293 million in cash stashed away in trust by DWAC.
Expressing optimism in the social networking platform’s potentials, the Chairman/ Chief Executive Officer (CEO), DWAC, Patrick Orlando, said that there is an opportunity to “create significant shareholder value”, citing “the total addressable market” and Trump’s “large following”.
TMTG will also follow with the launch of a video-on-demand service dubbed TMTG+ that will feature “non-woke entertainment programming, news, podcasts, and more,” the news release said.
This news follows the ban of Trump’s ostracisation from popular social media sites such as Facebook, Twitter, and Instagram after his post spurred a group of his supporters to storm the US Capitol on January 6.
Trump had alleged that the vote-counting – in the last presidential election that he lost to his Democratic opposition Joe Biden – was a “fraud”, maintaining his stance despite repeated losses in courts across the country.
Trump’s attempt to reach his followers has been a continuous journey, as he, following the ban, created a blog called, ‘From the Desk of Donald J. Trump’ that was later chucked after a month’s run.
