![]() The two entities have raised $1 billion from 36 investors in a private placement.īut none of that money can be tapped until regulators wrap up their inquiry into whether Digital World flouted securities regulations in planning its merger with Trump Media. In September, Trump Media agreed to merge with Digital World Acquisition, a blank-check or special purpose acquisition company that raised $300 million. Trump’s venture may have the best chance of success if it launches, not just because of the former president’s star power but also because of its financial heft. Trump added, would let the truckers “communicate freely on Truth Social when we launch - coming very soon!” (Meta, the parent company of Facebook, said it removed several groups associated with the convoy for violating their rules.) “Facebook and Big Tech are seeking to destroy the Freedom Convoy of Truckers,” he said in a statement. This month, CloutHub, which has just four million registered users, said its platform could be used to raise money for the protesting truckers of Ottawa. ![]() Parler, for instance, used Twitter to post a link to an announcement that Melania Trump, the former first lady, was making its platform her “social media home.”Īlternative social media companies mainly thrive off politics, said Mark Weinstein, the founder of MeWe, a platform with 20 million registered users that has positioned itself as an option to Facebook.īut since political causes drive the most engagement for alternative social media, most other platforms are quick to embrace such opportunities. Gettr, Parler and Rumble have relied on Twitter to announce the signing of a new right-wing personality or influencer. ![]() So the big platforms remain important vehicles for “partisan users” to get their messages out, Mr. Many people who claim to crave a social network that caters to their political cause often aren’t ready to abandon Twitter or Facebook, said Weiai Xu, an assistant professor of communications at the University of Massachusetts-Amherst. For instance, there are more than 1.9 billion daily active users of Facebook and 211 million daily active users on Twitter who see ads. But they are unlikely to pose a serious competitive challenge to mainstream social media platforms, which have billions of users, experts said. User numbers for most of these companies - or how they define users - are hard to verify as they are not often independently tracked. Trump’s app will be the newest - and most conspicuous - entrant in the tightly packed universe of social media companies that have cropped up in recent years, promising to build a parallel internet after Twitter, Facebook, Google and other mainstream platforms began to crack down on hate speech.Īlternative platforms claim to have signed up tens of millions of users. (Reuters reported that the company still planned to have the app available for download from the Apple Store on Monday.) A full rollout could be hampered by a regulatory investigation into a proposed merger of its parent company, the Trump Media & Technology Group, with a publicly traded blank-check company. Truth Social was supposed to go live on Presidents’ Day, but the start date was recently pushed to March, though a limited test version was unveiled recently. MeWe and CloutHub are similar to Facebook, but with the pitch that they promote speech without restraint. That’s similar to Parler - essentially another Twitter clone backed by Rebekah Mercer, a big donor to the Republican Party. Trump, bills itself as a haven from censorship. ![]() Gettr, a right-wing alternative to Twitter founded last year by a former adviser to Mr. Trump has promoted Truth Social, the soon-to-be-released flagship app of his fledging social media company, as a platform where free speech can thrive without the constraints imposed by Big Tech.Īt least seven other social media companies have promised to do the same.
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