Former U.S. president Donald Trump launches 'TRUTH' social media platform - Reuters
President Donald Trump will launch his own social media app, TRUTH Social, that he said would "stand up to Big Tech" companies such as Twitter and Facebook that have barred him from their platforms.
TRUTH Social will be created through a new company formed by a merger of the Trump Media and Technology Group and a special acquisition company (SPAC), according to a press release distributed by both organizations."Tonight my father signed a definitive merger agreement to form what will ultimately be the Trump Media and Technology Group and TRUTH Social - a platform for everyone to express their feelings.".
The deal will list Trump Media & Technology Group on Nasdaq through a merger with Digital World Acquisition Corp, a blank-check acquisition firm led by former investment banker Patrick Orlando.Trump Media & Technology Group will receive $293 million in cash that Digital World Acquisition Corp had in trust, assuming no shareholder of the acquisition firm chooses to redeem their shares, according to the statement.