Trump Media & Technology Group, an American media, and technology firm founded in October 2021 by former U.S. President Donald Trump, launched Truth Social (also stylized as TRUTH Social) as a social media platform. In the alt-tech arena, the platform has been compared to Parler and Gab.
Until February 21, 2022, the service was available for use. Scalability issues have plagued the Truth Social platform since its launch, resulting in a lower-than-expected user base.
From September 2017 to May 2022, access to the service was restricted to customers in the United States and Canada. There is a web app for accessing the service in May 2022, although access is still geographically restricted and can only be accessed using certain internet browsers.
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Trump Put His Energy Toward Truth Social
One billion dollars is a vital message to Big Tech that censorship and political prejudice must end,” Trump was reported adding. TRUTH Social, a platform that does not discriminate on the basis of political philosophy, is just what the country needs right now. TMT Global (TMTG) will be able to counter Big Tech’s despotism when our balance sheet grows.
It is clear from Trump’s statement that the smooth operation of his social media firm is of the utmost importance to him. Truth Social benefits from his tireless efforts to generate revenue and raise the company’s profile.
the fact Trump announced Social in October, saying it was established to “stand up to the tyranny of Big Tech.” Like any new social media network, it had its share of issues. During a trial run of the website’s debut, for example, hackers swiftly exploited the system.
Truth Social Has Secured Private Money in The Amount of $1 Billion
Private investment in public equity (PIPE) is the name given to the $1 billion deal, which was outlined in an early edition of the paper. This Draft, which was sent to The New York Times, sheds some light on the potential investors. Investors exchange cash for stock that is eventually registered for sale on the open market by the company.
A mix of small and mid-sized hedge funds with headquarters in the United States or Canada dominates the investor pool, according to the report.
Two of the investors on the list were previously unknown. Truth SPC is one of the most significant investors in this venture. The word “Truth Social” appears to be a play on the name of the app.
Is Truth a Social Issue?
Only available in the United States, Truth Social is a social media platform that encourages a global discourse without respect for political ideology.
In October 2021, former President Trump stated that he will launch his own social media platform. Devin Nunes, a former congressman, was appointed CEO by Trump. On October 17, 2021, the program was first created for beta testing and released to the public. It only took a few days for hackers to get access to the site and create fictitious profiles for Trump and Vice President Mike Pence.
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Version 0.0.1 of the Truth Social iOS app, with a build date of January 18, 2022, is the most recent version available. Due to capacity restrictions, users have complained of being stuck in waitlists and thus unable to use Truth Social since its launch.
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