Former President Trump is launching his own social media app called “Truth Social,” which is part of his newly formed media and technology company, according to a press statement.
Trump Media and Technology Group (TMTG) and Digital World Acquisition Group have entered a merger agreement and are already listed on the Nasdaq, according to a statement that adds the company will be helmed by the former president.
Its mission is to “create a rival to the liberal media consortium,” per the release. TMTG’s social media app, which is already available for preorder in the Apple App store, will begin its Beta launch next month for invited guests.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” Trump said in a statement.
According to the release on its website, the company was formed via a special purpose acquisition company (SPAC), which the Securities and Exchange Commission defines as “a popular vehicle for various transactions, including transitioning a company from a private company to a publicly traded company.” As the SEC notes and as Digital World Acquisition Group states of itself on its website, a SPAC is often referred to as a “blank check company.”
In addition to Trump Media and Technology Group’s social media launch, the company plans to host digital streaming and more. The website also lists upcoming brand sections called TMTG+ and TMTG News.