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Friday, January 21, 2022

Trump to launch social media app similar to Twitter on February 21 – National | Globalnews.ca

Former President Donald Trump’s new media venture plans to launch its social media app Truth Social on February 21, according to an Apple Inc. App Store listing.

TRUTH Social, Twitter’s alternative to Trump Media & Technology Group (TMTG), is available for pre-order ahead of going live on the US President’s Day holiday.

Similar to Twitter, according to the demo photo, the app offers features to follow other people and trending topics.

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The app’s launch will come 13 months after Meta Platforms Inc.’s Facebook and Twitter banned Trump for encouraging his supporters to participate in the January 6 attack on the US Capitol, which will be a widespread campaign for the 2020 presidential election. was based on baseless claims of fraud.

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Marking the one-year anniversary of the attack, US President Joe Biden on Thursday said his predecessor’s false claims could expose the rule of law and influence future elections.

TMTG and Apple did not respond to requests for comment, but a source familiar with the matter confirmed that the app’s launch is planned for February 21.

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The launch is expected to be the first of three phases in TMTG’s development. The second will be a subscription video-on-demand service called TMTG+ with entertainment, news and podcasts, according to the company’s website. An investor presentation in November indicated that TMTG also wanted to launch a podcast network.

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Based on the stock price of Digital World Acquisition Corp., TMTG is currently valued at $4.3 billion. TMTG agreed to merge with the blank-check firm in October at a valuation of $875 million.

Trump supporters and retail investors have raved about Digital World’s stock, betting that Trump’s popularity with his Republican political base will translate into commercial success.

Click to play video: 'US Capitol riot: Harris says January 6 showed strength, fragility of democracy'

US Capitol riot: Harris says January 6 showed democracy’s strength, fragility

US Capitol riot: Harris says January 6 showed democracy’s strength, fragility

Blank-check acquisition deal faces regulatory risk. Democratic US Senator Elizabeth Warren last month asked Securities and Exchange Commission Chairman Gary Gensler to investigate the planned merger for possible violations of securities laws surrounding the disclosure. The SEC declined to comment on whether it plans to take any action.

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TMTG raised an additional $1 billion from private investors last month.

Trump canceled a news conference at his Mar-a-Lago estate in Florida that was scheduled for January 6, marking the one-year anniversary of the Capitol attack. He said he would instead comment at a rally in Arizona on January 15.

– Reporting by Crystal Hu in Toronto and Helen Coster in New York; Additional reporting by Stephen Nellis in San Francisco


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