A Wednesday press release announced that this new business – Trump Media & Technology Group – will be a publicly listed company when it merges with Digital World Acquisition Corp. Along with the new company comes a social media app called TRUTH Social, which is now available for pre-order on the Apple store and is expected to have a beta launch next month with a nationwide rollout coming in the first quarter of 2022.
Digital World Acquisition Corp., based in Miami, is a special-purpose acquisition company, or SPAC, explained the Associated Press.
These companies are designed to list the shares of a private company more quickly than a traditional initial public offering. When a SPAC acquires a private firm, it can change its name and other details to those of the acquired firm.
“Trump Media & Technology Group’s mission is to create a rival to liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley,” said the press release.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” said Trump in a statement. “We live in a world where the Taliban has a huge presence