Ex-President Donald Trump has announced his return to the digital world with the planned launch of his own social media app as he promises to “stand up to Big Tech” after being banished from major platforms.
The app, TRUTH Social, will be created through a new company formed by a merger of the Trump Media and Technology Group and a special purpose acquisition company (SPAC), according to a press release they issued on Wednesday.
The venture may provide the first real test of the power of right-wing social media with the full force of Trump’s support. Questions remain about how it plans to make money and avoid the same issues that led Twitter, Facebook and YouTube to ban or suspend him.
Related: Trump Hits Facebook, Twitter & Google With Class Action Suit
In a presentation to investors, the new venture’s backers said TMTG aspires to create a media powerhouse to “rival the liberal media consortium” and “fight back against the Big Tech companies of Silicon Valley.” During his presidency, Trump railed against major news media organizations and called journalists “the enemy of the people.”
The company said it wants to build a “non-cancellable” global community – including a social media platform, streaming service, news division and alternative cloud provider – to compete against entrenched players in those categories, from Twitter to Disney+ to CNN to Google Cloud. It said a streaming service, TMTG+, promises “news, big-tent entertainment, exciting documentaries, sports programming and more.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
