Trump Media and Technology Group is a company formed by the former US President, Donald Trump, in February 2021.
Devin Nunes announced that he will be the CEO of the company after he resigns from Congress.
TMTG recently proposed a social media platform called Truth Social. After the announcement of the launch of Truth Social, SPAC and DWAC announced a merger with TMTG. TMTG was valued at $875 million on 21 October 2021.
SPACs raise funds from investors by first selling the shares to the public. They then acquire unknown private companies.
Many of the SPACs investors were unaware of the fact that their money will be used to finance Trump’s company.
Partnership with Rumble Inc.
This partnership will enable Rumble to provide video and streaming for Trump’s new social media venture, Truth Social.
TMTG is in negotiations with Rumble to provide video delivery and infrastructure for subscription video-on-demand products. This will be called TMTG+.
Trump’s chairman said, “As part of our mission, TMTG continues to align with service providers who do not discriminate against political ideology,” “Therefore, I have selected the Rumble Cloud to serve as a critical backbone for TMTG infrastructure. TMTG has already launched Truth Social on the Rumble Cloud for invited guests only, and the initial Beta launch has been excellent. America is ready for TRUTH Social, and the end to cancel culture.”
Rumble’s Chief Executive Officer, Chris Pavlovski said, “Rumble is excited to provide technology and cloud services to TMTG. We continue to build the infrastructure to deliver a free, open, and neutral internet. Rumble was designed to be immune to cancel culture, and we are at the forefront of a movement that believes everyone benefits from access to a neutral platform that hosts diverse ideas and opinions.”
About Rumble Inc.
Rumble is a Youtube mock-off. It is to create and make video streaming easy. This application offers a variety of tools for stream creation. There is an instant monetization feature that makes the creators secure. This ad-free application gives 100% share to the creators of their licensing policy.
This app was created when Youtube users complained about their videos getting pushed out by the algorithm. Pavlovski said, “The idea came up when I started seeing my own friends uploading great comedy sketches or whatever they have made without any luck whatsoever”.
TMTG (Trump Media and Technology Group) recently proposed a social media platform called Truth Social.
The former United States President, Donald Trump was banned from Twitter and Facebook in 2021. This happened probably due to the United States Capitol Attack in 2021. Following this, he also launched a site called “From the Desk of Donald J. Trump”.
On this site, he posted an announcement in a Short tweet format. However, this site was shut down in less than a month.
The former President then made a prospect to launch a new social media platform- Truth Social.
TMTG said that along with SPACs and PIPE, Truth Social has raised $1 billion in December 2021. The investors for the company are unidentifiable. The funding is expected to reach up to $3 billion as reported by The Financial Times. According to the Digital World Stock Prices, the company is valued at $4 billion as of 3rd December 2021.
Donald Trump in a statement said that his company will be “in a stronger position to fight back against the tyranny of Big Tech.”
Trump said in a statement, “in a stronger position to fight back against the tyranny of Big Tech.” He also added, “America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology.”