Former US President Donald Trump announced plans on Wednesday to launch his own social media platform called “TRUTH Social,” which is expected to begin its beta rollout for “guests” next month.
The long-awaited platform will be owned by Trump Media & Technology Group (TMTG), which also intends to launch a subscription video-on-demand service that will feature “no-wake” entertainment programming, the group said in a statement.
“I created TRUTH Social and TMTG to confront the tyranny of big technology,” said Trump, who was kicked out of Twitter and Facebook in the wake of the Capitol uprising carried out by his supporters on January 6 of this year, quoting Trump. the declaration.
“We live in a world where the Taliban have a large presence on Twitter, but their favorite American president has been silenced. This is unacceptable,” he continued.
Trump Media & Technology Group will merge with blank check company Digital Acquisition Corp to make TMTG a publicly traded company, according to the statement.
“The transaction values Trump Media & Technology Group at an initial business value of $ 875 million, with a potential additional gain of $ 825 million in additional shares (at the valuation given) for a cumulative valuation of up to $ 1.7 thousand million depending on the performance of the stock price post-business combination, “he said.
Ever since he was banned from the world’s mainstream social media as punishment for agitating the mob that looted Congress on January 6, Trump has been looking for ways to get his internet platform back.
In May, he launched a blog called “From the Desk of Donald J. Trump,” which was touted as a major new outing.
But Trump, who was also banned from Instagram, YouTube and Snapchat in the wake of the Capitol chaos, canceled the blog just a month later.
Former Trump adviser Jason Miller launched a social network called Gettr earlier this year, but the former president has yet to join it.