Trump, raised 1 billion for the launch of a new social platform – Ultima Ora

Trump, raised 1 billion for the launch of a new social platform – Ultima Ora
Trump, raised 1 billion for the launch of a new social platform – Ultima Ora

(ANSA) – WASHINGTON, 05 DEC – Trump Media & Technology Group (Tmtg) and the partner company Digital World Acquisition have announced that some unspecified institutional investors have committed to pay a billion dollars for the start-up with which the tycoon intends to launch a new social platform called Truth Social early next year, after being banned from Twitter, Facebook and Youtube for its incendiary messages related to the onslaught of Congress.

The sum will be in addition to the $ 293 million raised by Digital Word with an IPO in September.

The plan of Trump’s social media company is to go public through the merger with the World Acquisition, which is a special purpose acquisition company (Spac), i.e. a company created with the sole purpose of buying a private company and bringing it on the stock exchange, shortening the times to sell the shares to the public. (HANDLE).

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Trump raised billion launch social platform Ultima Ora

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