Former President Donald Trump made a stunning announcement on Wednesday night – announcing that he was officially launching a new social media company called “TRUTH Social.”
The company, which looks to combat the mass censorship and left wing bias that dominates current platforms such as Facebook and Twitter, is expected to have a fully working product come Spring of 2022.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” Trump 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 was founded with a mission to give a voice to all,” he added. “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!”
The statement from Trump Media & Technology Group added:
“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.
According to the statement, a beta launch will take place for invited guests in November of 2021 with the full-scale nationwide rollout to be expected in the first quarter of 2022.
The former president, who is set to serve as chairman of TMTG, previously teased about launching a new media platform but that one turned out to be little more than a blog once unveiled.
Trump senior aide Jason Miller did, however, hinted at the time that the move was a precursor for Trump launching a social media platform of his own.
According to the Palm Beach Post, the new company also “intends to launch a subscription video on-demand service” that will “feature ‘non-woke’ entertainment programming, news, podcasts, and more.”
Social media giants Twitter, Facebook, and YouTube all used the Jan. 6 ‘riot’ as an excuse to deplatform Trump on each avenue, with no indication that he would ever be allowed back in what can only be described as a blatant attempt to censor his voice.
Author: Dillon Franklin