TECH

Trump gives an adequate response to Twitter

Startup Trump Media and Technology Group (TMTG), owned by former US President Donald Trump, announced that it has raised $1 billion in funding from PIPE, a private investment in a public company. Investor names were not specified.

Trump said: “The $1 billion is an important signal to the tech giants that censorship and political discrimination must end. As capital grows, TMTG will be in a stronger position to face the tyranny of the tech giants. The startup is awaiting a merger of SPAC and Digital World Acquisition Corp, led by financier Patrick Orlando. In September, the company managed to raise $293 million on the NASDAQ stock exchange and, according to open data, the investors were companies associated with political opponents of Trump.

In anticipation of the acquisition of TMTG, Digital World shares gained significant weight from its original $10 price. With that, net of costs, a startup's total investment could reach $1.25 billion. It is noteworthy that the Truth Social platform owned by TMTG is positioned as a social network that allows the publication of materials “without discrimination of political ideology”, although it has not been presented so far. no business plan, no customer service app.

mundophone