The stock price of Digital World Acquisition Corp skyrocketed by 357% on Thursday, October 21. But why is that relevant? Because this special purpose acquisition company just announced a deal with Trump Media and Technology Group (TMTG). Yes, Trump as in Donald Trump. On October 20, the 75-year-old announced that he would be launching his own social media platform, which will be owned by TMTG. This comes after the former US President was banned from both Facebook and Twitter. We explain what it is all about, right here.
What is this social media platform called, anyway?
According to a statement by Trump Media and Technology Group, it will be called TRUTH Social. According to Trump, “I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. We live in a world where the Taliban has a huge presence on Twitter, yet your favourite American President has been silenced. This is unacceptable."
Can we get on this platform now?
Not yet. However, the app is available for pre-order on Apple Play Store. Its beta version will be launched in November 2021. A nationwide rollout is expected in the first quarter of 2022. Now, if you want to sign up, you can go to www.truthsocial.com to sign up for the invite list.
Will Trump be there on this platform?
Duh, of course. He is, in fact, set to send out the first 'TRUTH' (TRUTH Social's version of a Tweet or a Post). "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," Trump said in a statement.
Why is this platform important for Trump?
On January 8, 2021, Twitter banned Trump permanently. According to Twitter, Trump was suspended "due to the risk of further incitement of violence" from his tweets. Since January 6, 2021, Facebook and Instagram have also banned him. On July 7, 2021, Trump filed a class-action lawsuit against Facebook, Google and Twitter, asserting they had engaged in "illegal, shameful censorship of the American people".
