According to The Hill, former President Donald Trump’s social media company is being backed by an unidentified group of investors who have pledged $1 billion.
Trump Media & Technology Group Corp. (TMTG) and its blank-check company made the announcement on Saturday.
Trump was banned from various social media sites following the Jan.6 riots at the U.S. Capitol.
“$1 billion sends an important message to Big Tech that censorship and political discrimination must end,” Trump said in a statement.
“America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology. As our balance sheet expands, TMTG will be in a stronger position to fight back against the tyranny of Big Tech.”
The company is expected to release a subscription-based video streaming service called TMTG+. The company is also expected to offer” news, entertainment, podcasts and other content.
“I am confident that TMTG can effectively deploy this capital to accelerate and strengthen the execution of its business, including by continuing to attract top talent, hire top technology providers, and roll out significant advertising and business development campaigns,” Digital World CEO and Chairman Patrick Orlando said in a statement.
Content wars, I guess. But onne BILLION dollars?? I can’t wait to see what kind of content this company is going to produce with a billion dollars… The name TRUTH is already catchy!