Donald Trump's New Media Venture 'Truth Social App' Launch on 21st February, 2021
The former US President Donald Trump plans to launch an App named Truth Social App, similar to Twitter on the 21st of February 2022.
The new venture of technology is going to be live on 21st February, the Truth Social and Trump Media and Technology Group (TMTG) is available for Pre-Order before going live on the US President’s Day holiday.
Highlighted Facts
- The expected value of this App is about $5.3 billion, and the Indian Value is approx. 39,430 Crore.
- The supporters of Trump and the investors have snapped up Digital World’s stock.
- The App will be named as ‘Truth’ to all its Messages which will be equivalent to a Tweet.
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According to an Apple App Store Listing, there is a new app that is going to be launched named the Truth Social and Media App, and the owner of the App is the former President Donald Trump of the US.
The working of the App is similar to Twitter and also will allow the users to send messages and follow other people and will provide the Trending Topics that are circulating in the current Era.
The announcement of the news came after 13 months from the date of Meta’s Platform’s Facebook and Twitter banned Trump’s account from their platforms and the reason was the encourage his supporters to participate in the January 6 attack on the US capitol based on the claims of fraud President Election.
While marking the first anniversary of the attack, US President Joe Biden said on Thursday that the Predecessor’s false claims could unravel the rule of law and change the future election.
Both the companies, TMTG and Apple didn’t make any statement for the launch date of the App but according to a source that is familiar with the subject has told that the expected date of the launch is the 21st of February.
The TMTG development is categorized into three stages and the first stage is the launch of this App, and the second stage is expected as the subscription video-on-demand service called TMTG+ with entertainment including news and Podcast which is revealed by the company website. A November presentation that was presented by an investor also indicate that the company is also wanted to launch a podcast network.
TMTG's Valuation
The Value of the TMTG App in the Share Market is looking in the high numbers and the current value of the Company is about $5.3 billion (about 39,430 crores). After the listing of the App in the Google Play Store, the value of its share immediately increased to 20%, and also the company has said that it is going to merge with a Black- Check firm, having the valuation of $875 (about 6,510 crores).
Recently the company TMTG raised an additional $1 billion (about Rs 7,440) from private investors.
More recently the former President Trump also canceled a news conference at his Mar-a-Lago estate in Florida that was initially scheduled for January 6 and the reason for the cancellation was the celebration of the Anniversary of the Capitol attack. He also told that he will instead deliver remarks at a rally in Arizona on January 15.
