The former American president, Donald Trump, prepares to launch the suo social network and for the project he has already collected 1 billion dollars of funds. The new platform will be called Truth Social. Trump Media & Technology Group and partner Digital World Acquistion have announced that they have obtained the funds from various institutional investors. The new social network will debut next year.
Trump raises $ 1 billion for his social network
Donald Trump’s new social network, Truth Social, is preparing to be born relying on truly significant funds. Trump Media & Technology Group and partner company Digital World Acquisition have, in fact, announced that they have obtained a billion dollars in funds for the new startup. These funds add up to the 293 million dollars collected last September with a Ipo. Overall, the project has sufficient funds to complete the launch quickly.
Investors have not yet been identified. Launch expected in 2022
The two companies that will launch Truth Social have not clarified the identity of the investorthe. It was specified, however, that the funds raised will come from a “Diversified group” of investors after the merger of the companies. More details on the matter will certainly come in the next few weeks. We recall that the project of Trump’s new media company is to launch the new social network as early as the first part of 2022. Further details on the project will arrive in the next few weeks.