Trump’s Truth Social Lost Tens of Millions Since Launch, New Filing Shows
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The company that TMTG is planned to merge with, DWAC, broke out the surprising results in a securities filing Monday.

Trump’s Truth Social Has Lost $73M Since Launch, New Filing Shows: The company that TMTG is planned to merge with, DWAC, broke out the surprising results in a securities filing Monday.::Truth Social Losses and Revenue revealed for first time as Trump social platform discloses financial data and says it is a “going concern”

  • AutoTL;DR@lemmings.worldBEnglish
    1·
    1 year ago

    This is the best summary I could come up with:

    The numbers were revealed in a new financial disclosure from TMTG’s SPAC merger partner Digital World Acquisition Corp.

    The filing indicates that, if TMTG is unable to complete the merger with DWAC, and receive the pot of money on the line, it may not survive.

    The amended S-4 filing also broke out a number of updates and risk factors related to the company, including the fact that the long-planned streaming video service appears to be off the table for now.

    The filing makes no mention of the service (which was teased with conservative comedy specials and “Trump-specific programming”) except in relation to layoffs.

    “This action followed a review of all departments, most significantly impacted TMTG’s streaming video on demand (SVOD) and infrastructure teams.”

    In May of 2022, Trump agreed to make Truth Social his primary social platform, agreeing not to post on other platforms until 6 hours after he sends a “Truth.” However, since initially signing the deal with TMTG, Elon Musk acquired Twitter and reinstated Trump’s account (he also rebranded it as “X.”)

    The original article contains 576 words, the summary contains 174 words. Saved 70%. I’m a bot and I’m open source!