Former United States President Donald Trump is looking forward to launch his own social media app dubbed ‘TRUTH Social’. Trump says through this initiative he will stand against big tech companies including Facebook Inc. (FB) and Twitter Inc. (TWTR) who both suspended his accounts alleging that his post went against the companies’ policies and were considered insightful.
“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. I’m excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech,” said Trump.
According to a press release, the TRUTH Social app will be developed through a new company formed through a merger deal between Trump Media & Technology Group and a Special Purpose Acquisition Company (SPAC), Digital World Acquisition Corp (DWAC).
Citing the merger deal, Trump Media & Technology Group will receive $293 million in cash which the Digital World had in trust assuming that no stakeholder of the SPAC decides to redeem their shares .