On October 20, TMTG issued a press release announcing the platform would have its public launch in "the first quarter of 2022." It was slated to enter limited beta for Apple iOS in November 2021, and though it did not meet this schedule for its beta testing, Trump claimed in December 2021 "invited guests" were already using the beta system. population polled had stated they would use a social media platform endorsed by Trump. In October 2021, TMTG published a document outlining the Truth Social platform, citing a poll saying one-third of the U.S. In an October 2021 SEC filing, the special-purpose acquisition company Yunhong International stated its goal was to "capitalize on growing opportunities created by consumer/lifestyle businesses that have their primary operations in Asia." An additional backer of the Trump social media venture, becoming the CFO of Digital World Acquisition, was Brazilian parliamentarian Luiz Philippe of Orléans-Braganza, a monarchist allied with Jair Bolsonaro. The DWAC chief executive Patrick Orlando, a Florida-based financier and former Deutsche Bank trader, was also the chief executive of the Wuhan-based Yunhong Holdings/Yunhong International, registered in the offshore tax haven of the Cayman Islands. Some investors were surprised to learn their investment money was being used to finance a Trump company. Led by former Mexican government official and China-based banker Abraham Cinta, ARC Capital's global links included offices in Shanghai, Wuhan, Mexico City, and Jakarta, which Bloomberg News described as "surprising", due to Trump's comments on various foreign countries in office. 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. Inception Īccording 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. 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. In May 2021, Trump launched " From the Desk of Donald J. 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. The Truth Social app was originally 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.įormer U.S. įrom mid-2022, Truth Social was reported to be facing financial and regulatory issues. As of August 29, 2022, it was number 25 in Apple's App Store rankings for social media apps, and SimilarWeb ranked its website as number 133 in their "News & Media Publishers" category, behind Gab at number 110, but ahead of Parler at number 873. The service was launched on February 21, 2022. It has been called a competitor to Parler and Gab in trying to provide an uncensored alternative to Twitter and Facebook. Truth Social (stylized as TRUTH Social) is a social media platform created by Trump Media & Technology Group, an American media and technology company founded in October 2021 by former U.S. October 20, 2021 ( ) (1 year, 3 months and 27 days ago)ġ.7 million unique visitors from the United States in September 2022
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