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Classics United States. Trump raises $ 1 billion for its social network

01:55  05 december  2021
01:55  05 december  2021 Source:   ouest-france.fr

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Donald Trump part à la Maison Blanche à Washington (États-Unis), le 22 septembre 2020. © Reuters Donald Trump Archives Part at the White House in Washington (United States), September 22, 2020.

The names of investors have not been communicated. Presented as an alternative to the major networks that have banned the accounts of Donald Trump, "Social Truth", the future platform of the former President of the United States, should be launched at first 2022.

the company to give birth to the future The social network of the former President Donald Trump and the company with whom she has to merge to enter the stock exchange said on Saturday, December 4th, a group of institutional investors had committed to bring $ 1 billion.

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This sum would be added to the $ 293 million already recovered by the "SPAC" Digital World Acquisition Corp at its arrival at Wall Street in September, details a statement. By removing transaction fees, Trump Media & Technology Group should recover 1.25 billion dollars to finance the launch of the social network of the former tenant of the White House, adds the document. The two companies did not specify who investors were committed to making funds.

The launch of "Social Truth" scheduled for the first quarter 2022

Mr. Trump had announced at the end of October that the company to bring its future social network would merge with Digital World Acquisition Corp, a specific acquisition company, or " SPAC » in English. This fashionable financial instrument is like an empty shell rising from the stock market by committing to getting closer in the following months of a promising business, allowing the latter to enter Wall Street without the traditional process.

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Entitled "Social Truth" , the future platform was presented by the former president as an alternative to Facebook, Twitter and YouTube of which he is banned for encouraging his supporters to violence before the assault of the Capitol , January 6th. Currently available in pre-order on the App Store, it must theoretically be launched in the first quarter 2022.

with the interest of particular investors, the action of the "SPAC" was skyrocketing after the announcement From his rapprocperation with Mr. Trump's company, from about $ 10 to a peak of $ 175 in two days. It is, however, descended after this initial craze and closed Friday at 45, which gave it a valuation of $ 1.67 billion.

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