Former President Donald Trump announced on Wednesday that his new social media platform will be coming soon, The Daily Wire reported.
TRUTH Social will be released next spring under the Trump Media & Technology Group (TMTG). The platform will compete with Facebook and Twitter, like Parler and GETTR.
Trump said he is excited about the new platform’s potential.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” he said in a statement. “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 concurred with Trump’s statement, adding that the “mission is to is to create a rival to the liberal media consortium and fight back against the “Big Tech” companies of Silicon Valley”:
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 was permanently banned on Facebook and Twitter following the Jan. 6 riot in Washington D.C.
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