Trump to launch his social media app in February, listing shows -Breaking
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© Reuters. The photo illustrates the U.S. President Donald Trump’s suspended Twitter profile on his smartphone during the White House briefing in Washington. It was taken January 8, 2021. REUTERS/Joshua Roberts/IllustrationHelen Coster and Krystal Hu
(Reuters) – Truth Social is a new venture by former President Donald Trump that will be launched on February 21st, according to Apple Inc (NASDAQ) App Store listing.
TRUTH Social, the Trump Media & Technology Group (TMTG) alternative to Twitter (NYSE:), is available for pre-order before going live on the U.S. Presidents’ Day holiday.
It is similar to Twitter and allows users to follow people, as well as trending topics.
This app would be launched 13 months after Meta Platforms Inc (NASDAQ:) banned Trump from using his Twitter and Facebook accounts to encourage supporters to attack the U.S. Capitol on Jan. 6. The attacks were rooted in unsubstantiated claims that there was widespread fraud in 2020’s presidential election.
On Thursday, the U.S. President Joe Biden stated that the false allegations of his predecessor could undermine the rule of law in the future and threaten the legitimacy of any elections.
Apple and TMTG didn’t respond to inquiries for comment. A source however confirmed that February 21 was the expected launch date.
This launch will be the start of three phases in TMTG’s development. The company’s website states that the second phase would include a video-on demand subscription service, TMTG+, which includes news, entertainment and podcasts. A November investor presentation showed that TMTG is also interested in launching a podcast network.
Based on Digital World Acquisition Corp’s stock price, TMTG currently stands at $4.3Billion. TMTG also agreed to merge with blank-check company at a value of $875M.
Trump supporter and retail investors bought Digital World stock in a bet that Trump’s popularity among his Republican base would translate into commercial success.
Regulations are at risk with the blank-check acquisition agreement. Democratic U.S. The Democratic United States. SEC refused to discuss whether or not it planned any action.
TMTG has raised another $1 billion in private investments last month.
Trump cancelled a Jan. 6 news conference that was scheduled at Mar-a-Lago in Florida. It had been due to mark the anniversary of the Capitol Attack. Trump said he’ll instead address a rally held in Arizona on January 15.
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