Former President Donald J. Trump made his move last night and finally unveiled his new social media network and new media company called Trump Media & Technology Group. In a clever move, Trump merged his company with Digital World Acquisition Corp. (NASDAQ: DWAC) so the new venture is already listed on a major exchange.
Trump said: “I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. 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!”
Trump issued a statement that said: “Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) have entered into a definitive merger agreement, providing for a business combination that will result in Trump Media & Technology Group becoming a publicly listed company, subject to regulatory and stockholder approval.
“The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination.
“Trump Media & Technology Group’s growth plans initially will be funded by DWAC’s cash in trust of $293 Million (assuming no redemptions).
“Trump Media & Technology Group’s mission is to create a rival to the liberal media consortium and fight back against the “Big Tech” companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America.
“Trump Media & Technology Group (“TMTG”) will soon be launching a social network, named “TRUTH Social.” TRUTH Social is now available for Pre-Order in the Apple App store. TRUTH Social plans to begin its Beta Launch for invited guests in November 2021. A nationwide rollout is expected in the first quarter of 2022. Those who are interested in joining TRUTH Social may now visit www.truthsocial.com to sign up for the invite list.
“President Donald J. Trump, the Chairman of TMTG, stated, “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. 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!”
“Patrick F. Orlando, Chairman/CEO of DWAC, stated, “Digital World was formed to create public shareholder value and we believe that TMTG is one of the most promising business combination partners to fulfill that purpose.
“DWAC currently has $293 Million in trust, assuming minimal redemptions, which can fuel TMTG’s scale up, including to provide world class leading technology services to build strong and secure social networks and diverse media offerings. Given the total addressable market and President Trump’s large following, we believe the TMTG opportunity has the potential to create significant shareholder value.”
“Additionally, TMTG intends to launch a subscription video on demand service (TMTG+). TMTG+ will feature ‘non-woke’ entertainment programming, news, podcasts, and more. TMTG has named Scott St. John as the leader of TMTG+ Corporate Operations.
“Scott St. John is the Executive Producer of “Deal or No Deal’ and “America’s Got Talent” and has produced over 1,000 hours of Network and Cable TV.
Please visit TMTG’s corporate website at www.tmtgcorp.com for a Company Overview, and a video tour of TRUTH Social,” the statement said.
Some of the key features of Truth Social are:
Profile – Express your unique personality by setting up a profile, avatar, and background. Begin to track your personal connections through follower and following counts as well as history for your posts and likes.
TRUTH Feed – Get the scoop on the latest thoughts and activities from the people, organizations, and news outlets that interest you. The TRUTH Feed contains posts from all those you follow brought to life with the help of thumbnail photos, links, and more.
Search – TRUTH Social really starts to become interesting as you connect with others. Search for a voice that you find interesting and easily follow them right from the search list or view their profile first before deciding.
Notifications – Stay engaged as you build a following. See who’s following you and who’s interacting with your TRUTH’s.
BREAKING: @DonaldJTrumpJr on the announcement of https://t.co/I4K8Tz54NM— Benny (@bennyjohnson) October 21, 2021
Truth Social is “a Big Tent, an open and Free Network for people to be able to communicate, to exercise your First Amendment rights.” pic.twitter.com/Kbq8fdmeN0
MORE:— Liz Harrington (@realLizUSA) October 21, 2021
“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!”https://t.co/zkSg6iAqtb