Donald Trump to Launch His Truth Social App on February 21
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Donald Trump to Launch His Truth Social App on February 21

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Former President US Donald Trump’s new media enterprise plans to launch its social media app Truth Social on February 21, in line with an Apple App Store itemizing.

Truth Social, the Trump Media & Technology Group (TMTG) various to Twitter, is accessible for pre-order earlier than going dwell on the US Presidents’ Day vacation.

Similar to Twitter, the app affords options to comply with different individuals and trending subjects, in line with demo images. Its message equal of a tweet shall be dubbed “truth”.

The app’s launch would come 13 months after Meta Platforms’s Facebook and Twitter banned Trump for encouraging his supporters to take part within the January 6 assault on the US Capitol primarily based on unsubstantiated claims of widespread fraud within the 2020 presidential election.

Marking the one-year anniversary of the assault, US President Joe Biden stated on Thursday that his predecessor’s false claims may unravel the rule of legislation and subvert future elections.

TMTG and Apple didn’t reply to requests for remark, however a supply acquainted with the matter confirmed that February 21 is the deliberate launch date of the app.

The launch is anticipated to be the primary of three levels in TMTG’s improvement. The second can be a subscription video-on-demand service referred to as TMTG+ with leisure, information and podcasts, in line with the corporate web site. A November investor presentation indicated that TMTG additionally needs to launch a podcast community.

TMTG is valued at $5.three billion (roughly Rs. 39,430 crore) primarily based on the inventory value of Digital World Acquisition, which rose 20 % after Reuters reported the app’s listing on the App Store. TMTG agreed in October to merge with the blank-check agency at a valuation of $875 million (roughly Rs. 6,510 crore).

Trump supporters and retail buyers have snapped up Digital World’s inventory, betting that Trump’s recognition together with his Republican political base will translate into business runaway success.

The blank-check acquisition deal faces regulatory threat. Democratic US Senator Elizabeth Warren requested Securities and Exchange Commission Chairman Gary Gensler final month to analyze the deliberate merger for potential violations of securities legal guidelines round disclosure. The SEC has declined to touch upon whether or not it plans any motion.

TMTG final month raised an extra $1 billion (roughly Rs. 7,440 crore) from non-public buyers.

Trump cancelled a information convention at his Mar-a-Lago property in Florida that had been scheduled for January 6, marking the one-year anniversary of the Capitol assault. He stated he’ll as a substitute ship remarks at a rally in Arizona on January 15.

© Thomson Reuters 2022

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