The technology startup of former President Donald Trump Truth. Society has secured a huge financial commitment from what is being described as a “diversified pool” of investors.
“Trump Media & Technology Group Corp. (TMTG), and its blank-checking firm announced on Saturday that it has received a $1 billion commitment from an unspecified group of ‘institutional investors’,” said The Hill. report.
“TMTG and drum testing company Digital World Acquisition Corp. say ‘Registration agreements for $1 billion in committed capital’ will be received from an unspecified group of investors when TMTG and Digital World are combined,” the outlet continued.
The Hill further notes:
In October, Trump announced that he would be creating a social media network called “Truth Social,” which is expected to launch in full in the first quarter of 2022. The network has been touted as “Truth Social.” a platform that “encourages open global conversation without discriminating the basis of political ideology. ”
The move comes after several social media companies kicked the former president off their websites following the Capitol riots on January 6, when Trump supporters stormed the Capitol and tried to prevent Congress from certifying. President Bidenwin the election.
“$1 billion sends an important message to Big Tech that censorship and political discrimination must end. America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology,” Trump noted in a statement.
“As our balance sheet expands, TMTG will be in a stronger position to resist the tyranny of Big Tech,” added Trump, who is listed as TMTG Chairman.
“I am confident that TMTG can effectively deploy this funding to accelerate and strengthen its business, including by continuing to attract top talent, hiring top technology vendors, and more. , while also launching critical business development and advertising campaigns,” said Digital World CEO and President Patrick Orlando also in a statement.
TMTG also plans to launch a subscription-based video streaming service called TMTG+, which the company says will deliver news, entertainment, podcasts and other content “no wake-up.”
Meanwhile, the former president also commented on CNN’s firing of “Primetime” host Chris Cuomo after revealing that he had offered more support to his glamorous brother, the former Governor of New York. Andrew Cuomo to fight sexual harassment allegations against what he has previously admitted.
“CNN ended up firing Fredo. He should have never had a job in the first place. I call him Fredo. Chris Cuomo. We fought. Now Fredo is fired.” Trump said at a TPUSA event at Mar-a-Lago.
Source link Trump Tech Start-up receives massive financial pledge from ‘diverse group’ of investors as former President reacts to CNN’s firing of former host Chris Cuomo