Business

The truth of Donald Trump Society didn’t start well

The launch of Truth Social, former President Donald J. TrumpSocial media, the alternative to Twitter, got off to a slow start.

As of Wednesday morning, Mr. Trump’s account on the app, available for free on Apple’s App Store since Monday, had just under 50,000 followers. This is a far cry from the tens of millions of followers he had on Twitter before he was banned from the social media platform last year, following the attack on the Capitol by some of his supporters. that.

Mr. Trump’s account still has a single post, which the company calls a “fact” instead of a “tweet”.

Truth Social’s official launch on Monday was marred by error messages and a long waiting list for those who signed up to download the app. (This reporter is at 94,000 on the list but was able to download the app on Tuesday.)

Technical problems with new apps are not uncommon, and the parent company, Trump Media & Technology Group, said it doesn’t expect the new platform to be fully operational before the end of March. Truth Social posted a notice from his own account saying “our team is working as fast as possible.”

The app’s glitchy start doesn’t seem to deter investors, who continue to push the stock price of Digital World Acquisition, the special-purpose acquisition that Trump Media has announced plans to merge. in October. On Tuesday, shares of Digital World jumped 14% to close at more than $96 a share.

Digital World has become the best performing SPAC – a first of its kind to go public, raising money from investors to buy a private company. Shares have continued to rise even in the face of regulatory investigations into how exactly Digital World’s deal with Trump Media played out.

Because of an investigation by the Securities and Exchange Commission, it remains unclear when the merger will close. If and when it does, Trump Media will have access to nearly $1.3 billion in cash, which will help build its social media business.

https://www.nytimes.com/2022/02/23/business/trump-truth-social-app-problems.html The truth of Donald Trump Society didn’t start well

Fry Electronics Team

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