DWAC Will Launch Trump Social Media Nov 2021 to Q12022

Home » Technology » DWAC Will Launch Trump Social Media Nov 2021 to Q12022 Digital World Acquisition Corp., is the SPAC that is taking former President Trump’s planned social media platform public. Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) merged. Trump Media & Technology Group becoming a publicly listed company,…
DWAC Will Launch Trump Social Media Nov 2021 to Q12022


Digital World Acquisition Corp., is the SPAC that is taking former President Trump’s planned social media platform public.

Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) merged. Trump Media & Technology Group becoming a publicly listed company, subject to regulatory and stockholder approval. The transaction values Trump Media & Technology Group at an initial enterprise value of $875 Million, with a potential additional earnout of $825 Million in additional shares (at the valuation they are granted) for a cumulative valuation of up to $1.7 Billion depending on the performance of the stock price post-business combination. Trump Media & Technology Group’s growth plans initially will be funded by DWAC’s cash in trust of $293 Million (assuming no redemptions).

The $10 per share stock has gone up over 900% in two days. It closed at $94 Friday. The valuation is currently over $3 billion.

Trump Media & Technology Group (“TMTG”) social network will be called “TRUTH Social.” TRUTH Social is now available for Pre-Order in the Apple App store. TRUTH Social plans to begin its Beta Launch for invited guests in November 2021. A nationwide rollout is expected in the first quarter of 2022. TRUTH Social (www.truthsocial.com) is open for prelaunch sign-ups.

Donald Trump had about 90 million twitter followers before he was suspended. His son Donald Trump junior has 7 million followers.

Twitter had about 206 million users in mid-2021. Twitter has a $50 billion valuation. Twitter makes about $5 billion per year in revenue and about $120 million per year in income.

SOURCES – TMTG, CNBC


Written by Brian Wang, Nextbigfuture.com

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