According to the Apple App Store list, former US President Donald Trump’s new media enterprise plans to launch its social media application Truth Social on February 21.
As an alternative to Twitter, Truth Social is an alternative to Trump Media and Technology Group (TMTG) and can be booked before the U.S. President’s Day holiday goes live.
According to the demo photos, the application is similar to Twitter, providing functions to follow other people and hot topics. The message equivalent to a tweet will be called the “truth”. The app will be launched in 13 months, after Meta Platforms’ Facebook and Twitter barred Trump from encouraging his supporters to participate in the January 6th attack on the US Capitol, which was based on unproven widespread fraud Said in the 2020 presidential election.
To commemorate the first anniversary of the attack, US President Joe Biden said on Thursday that his predecessor’s false statements could undermine the rule of law and upset future elections.
TMTG and Apple did not respond to requests for comment, but people familiar with the matter confirmed that February 21 is the planned release date for the application. This release is expected to be the first of three stages of TMTG development. According to the company’s website, the second one will be a subscription video-on-demand service called TMTG+, which includes entertainment, news, and podcasts. The November investor presentation indicated that TMTG also hopes to launch a podcast network.
According to Digital World Acquisition’s stock price calculations, TMTG is valued at US$5.3 billion (approximately Rs 39,430 crore). After Reuters reported that the app was on the App Store, the company’s stock price rose by 20%. TMTG agreed in October to merge with the blank cheque company at a valuation of US$875 million (approximately Rs 65.1 billion).
Trump supporters and retail investors have snapped up shares of Digital World, betting that Trump’s popularity on the basis of Republican politics will translate into great commercial success.
The blank check acquisition transaction faces regulatory risks. US Democratic Senator Elizabeth Warren asked US Securities and Exchange Commission Chairman Gary Gensler last month to investigate the planned merger because the disclosure may violate securities laws. The Securities and Exchange Commission declined to comment on whether it plans to take any action.
TMTG raised another US$1 billion (approximately Rs 744 billion) from private investors last month.
Trump canceled a press conference originally scheduled to be held on January 6 at Sea Lake Estate in Florida to commemorate the first anniversary of the Capitol attack. He stated that he will speak at a rally in Arizona on January 15.
Complete News Source : Gadgets360
