Similar Web’s estimates show a sharp spike of around 2 million daily visits to the site when it first debuted, before traffic dipped to an average of approximately 300,000 visits each day, putting the site on par with Gettr. Meanwhile, the far-right Gab has averaged around 650,000 daily average visits in the same time period.
Source: Donald Trump Can’t Stop Whining About His Failing Social Media App Truth Social
Even before anything is actually unveiled or proven successful, the venture is valued at over a billion dollars. There is, however, an extremely good chance the whole thing will be a flop, in which case Trump and his pals will still make hundreds of millions of dollars thanks to the way the deals are structured . . . and of course the average investor/Trump supporter will be left with little of value.
Source: The Truth About Trump’s ‘Truth Social’ Network – Progressive.org
The TRUTH is out there, according to known factualness provider Donald Trump. On Wednesday the former president, who has been banned from the major social media platforms since January, announced that he will be launching his own social media company called Truth Social. Although, in typical Trump style, it’s styled TRUTH Social.
To be precise Trump has done Nothing and Wall St Wolves have done everything. The numbers he cited $1.7 billion are huge for a company without any apparent cash flow. Like ” a lot of things that happen with Trump are not great with details and formalities, it’s perhaps not surprising.” However it’s not the norm in SPACs.”
For many investors, it apparently doesn’t matter that former President Donald Trump’s new media venture has yet to create, well, anything.
DWAC is what’s known as a “SPAC,” or special purpose acquisition company. The strategy, which has become popular in recent years as a way to sidestep the typically onerous regulatory process of taking a company public, typically occurs when a non-public company merges with a shell company that is already public. In this case, DWAC is set to merge with “Trump Media & Tec
It’s also important to note that a key feature of SPAC deals are the unique incentives that protect company insiders while other investors bear much of the risk if a deal fails to garner expected returns.
Trump’s last publicly traded venture, a casino company called Trump Entertainment Resorts, also ended in heartbreak for investors after it lost hundreds of millions of dollars in just over a decade, a period during which it filed for bankruptcy numerous times. Though if the past is any indication, Trump will likely come out on top — Fortune Magazine reported at the time that he earned more than $82 million from the company before it went bust.
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