Former U.S. President Donald Trump announced on Wednesday that he will launch his own social media platform, TRUTH Social, according to a press release by Trump Media and Technology Group (TMTG).
Former U.S. President Donald Trump will launch his own social media app, TRUTH Social, that he said would “stand up to Big Tech” companies such as Twitter and Facebook that have barred him from their platforms.
Trump’s new social network is set to launch a beta version in November, which will be available to invited guests only. Its national rollout is expected in the first quarter of 2022, the press release said.
Trump signaled his aspirations to create a rival social media platform after he was kicked off from several social media platforms. Earlier this year, major social media firms including Twitter, Facebook, and YouTube, banned or suspended Trump for violating their policies.
Twitter, Facebook, and other social media platforms banned Trump from their services after hundreds of his supporters rioted at the U.S. Capitol on Jan. 6.
That protest came after a speech by Trump in which he falsely claimed that his November election loss was due to widespread fraud, an assertion rejected by multiple courts and state election officials.
It seems Trump has his own motives to still get super active on social and does not want Facebook, Twitter, and other Big Tech companies to be an obstacle.
The Vibely has gathered 10 facts to know about Trump’s new social media App called “Truth Social” that you’d love to read about.
1. Truth Social App will be created after about 14 Social Media Platforms banned Donald Trump.
Trump signaled his aspirations to create a rival social media platform after he was kicked off from several social media platforms.
In history, Donald Trump is the one who has been banned on most social media platforms. Most of these platforms disabled Trump’s accounts because he allegedly went against the rules and guidelines. These sites and apps include Amazon, Apple, Discord, Facebook, Instagram, Google, Pinterest, Reddit, Shopify, Snapchat, Twitch, TikTok, Twitter, and YouTube.
2. Truth Social will be created by Trump Media and Technology Group (TMTG).
TRUTH Social app will be launched through a new company formed by a merger of the Trump Media and Technology Group, Digital World Acquisition Corp, and a special acquisition company (SPAC) listed on the Nasdaq, according to a press release distributed by both organizations.
3. Trump’s Truth Social App is set to stand up to Tyranny of Big Tech companies.
“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,” Trump said in the statement.
Trump said that the company’s mission is to create “a rival to the liberal media consortium and fight back against the Big Tech companies.”
“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!”, Trump spokesperson Liz Harrington noted.
4. TMTG was founded with a mission to give a voice to all.
“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,” Trump said in a written statement included in the release.
“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,” he said.
5. Beta of Truth Social APP will be launched in November 2021.
The social network, set for a beta launch next month and full rollout in the first quarter of 2022, is the first of three stages in the company’s plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news, and podcasts, according to the news release.
At the moment, the App is ready for a pre-order which is expected to be live on the 21st of February, 2021.
6. Donald Trump’s ‘Truth Social App’ is expected to be officially launched and be made available in the first quarter of 2022.
Trump’s new social network is set to launch a beta version in November, which will be available to invited guests only. Its national rollout is expected in the first quarter of 2022, the press release said.
The social network, set for a beta launch next month and full rollout in the first quarter of 2022, is the first of three stages in the company’s plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news, and podcasts, according to the news release.
The marketing materials for TRUTH’s iOS app show a screenshot with a list of posts from publications including The New York Times, Variety, Fox News and TechCrunch.
7. The Truth Social App is envisioned to compete with Amazon, Facebook, Twitter, Instagram, and others.
In a slide deck on its website, the company envisions eventually competing against Amazon.com’s AWS cloud service and Google Cloud.
A Trump representative who declined to be named confirmed the contents of the TMTG news release to Reuters. Trump spokesperson Liz Harrington also tweeted a copy.
“For so long, Big Tech has suppressed conservative voices,” the former president’s son, Donald Trump Jr., told Fox News in an interview. “Tonight my father signed a definitive merger agreement to form what will ultimately be the Trump Media and Technology Group and TRUTH Social – a platform for everyone to express their feelings.”
8. Truth Social App is a free platform for all, and to make amendments.
Truth Social is “a Big Tent, an open and Free Network for people to be able to communicate, to exercise your First Amendment rights.”
Truth App is expected to be the freest platform where everyone can post, community, exercise human rights, and ensure no biases on any one side.
Donadl Trump Jr in his interview with Fox News noted that “we are ready to return our voices back to those who need it and who want it to people everywhere because we want a discourse amongst everyone, not a one-sided platform where someone on the left disagrees with you, they just cancel and wipe you out”.
9. The deal values Trump Media & Technology Group at $875 million.
The deal will list Trump Media & Technology Group on Nasdaq through a merger with Digital World Acquisition Corp, a blank-check acquisition firm led by former investment banker Patrick Orlando.
Trump Media & Technology Group will receive $293 million in cash that Digital World Acquisition Corp had in trust, assuming no shareholder of the acquisition firm chooses to redeem their shares, according to the statement.
Orlando, who has worked at Deutsche Bank and BT Capital Markets, has launched at least four SPACs and has plans for two more, according to his firm’s website and regulatory filings.
But none of the SPACs have completed a deal yet. A China-based SPAC that Orlando led failed last month to complete a merger with Giga Energy Inc that would have valued the transportation solutions provider at $7.3 billion, because it could not deliver the cash required, according to regulatory filings.
Shareholder redemptions reduce the amount of cash that Digital World Acquisition Corp will have available to give to Trump Media & Technology Group at the closing of the deal.
The companies said in the statement that the completion of the merger is subject to redemptions not exceeding an agreed minimum cash requirement. The statement did not disclose what the requirement is, though that detail is typically contained in a regulatory filing that should follow on Thursday.
The deal values Trump Media & Technology Group at $875 million, including debt, according to the news release.
10. Truth Social website is live already.
Truth Social website is live “www.truthsocial.com” and anyone who wants to join n the Beta testing in November 2021, can sign up.
