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Concept
Truth Social
Summary
Truth Social (stylized as TRUTH Social) is an alt-tech social media platform created by Trump Media & Technology Group, an American media and technology company founded in October 2021 by former US president Donald Trump. It has been called a Twitter clone that competes with Parler, Gab and Mastodon in trying to provide an alternative to Twitter and Facebook.
The service was launched on February 21, 2022. Since mid-2022, Truth Social has been facing financial and regulatory issues. The application was initially not available on Google Play because of violations of Google policies prohibiting content with physical threats and incitement to violence, but was approved for Google Play in October 2022 after agreeing to enforce policies against incitement.
it was ranked number 101 in Apple's App Store rankings for social media apps, and SimilarWeb ranked its website as number 203 in their "News & Media Publishers" category, behind Gab at number 154, but ahead of Parler at number 1,052. Trump estimated in an April 2023 personal financial disclosure that the site's value ranged from 25 million.
Former U.S. president Donald Trump raised the prospect of building a new social media platform after he was banned from Facebook and Twitter in 2021, following the 2021 United States Capitol attack. In May 2021, Trump launched "From the Desk of Donald J. Trump", a web page where he posted short tweet-like announcements; it was shut down after less than a month, with Trump's senior aide Jason Miller confirming it would not be coming back.
According to Reuters, two members of the cast of Trump's TV show The Apprentice, Wes Moss and Andy Litinsky, were "central" to the founding of Truth Social's parent company, the Trump Media & Technology Group (TMTG), having allegedly pitched the idea of a social network to Trump in January 2021.
To facilitate becoming a publicly traded company, a special-purpose acquisition company (SPAC) called Digital World Acquisition Corp (DWAC) was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of SEC investigations for misrepresenting shell corporations.
Official source
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