Posted on 11/13/2023 8:57:43 PM PST by AirForceVet1988
Former U.S. President Donald Trump's social media platform Truth Social has lost $73 million since its launch in early 2022, a securities filing by Digital World Acquisition Corp (DWAC.O), the SPAC that plans to merge with the company, showed on Monday.
Trump had announced the launch of his social media app in Oct 2021, saying it would "stand up to Big Tech" companies such as Twitter and Facebook that previously barred him.
In 2022, Truth Social posted a loss of $50 million, with net sales of just $1.4 million. It lost $23 million in the first half of this year, with net sales of $2.3 million.
Trump Media & Technology Group's (TMTG) independent registered public accounting firm has indicated that the financial condition raises substantial doubt as to its ability to continue as a going concern, according to the filing.
(Excerpt) Read more at reuters.com ...
Not a bad burn rate for a startup, regardless of Rooter’s glee.
And doing a lot better than most legacy media.
There may not be a real need for Truth Social now, since Trump is back on X.
someone does not know how to sell advertising, or they are not tracking and selling all user data to the FBI and other agencies (lol, yes they are.)
so they are lying, and it is mismanaged, or both.
New company doing a micro blogging system cabaple of managing 10s of millions of concurrent users without using any existing infrastructure. Thats quite impressive. No gcp you tube , azure of aws..impressive feat.
Trump is no dummy, if it were a burden he would divest from it, and probably may do just that after the election anyway.
This obsession with poll numbers some Trump diehards here have is bizarre. Any story about legal hearings, about finances, about whatever, it's "look at these poll numbers!"
They mean nothing, and you know full well you'll be saying that too if it's October 2024 and Biden's leading in all of them.
Remember, in Trump world you inflate results when you need to borrow, deflate for tax purposes. Maybe this is a tax result.
17-D chess!
Truth won’t work on my IPAD, no matter what I do.
I can log on and off, make comments but can’t see other comments or interact with anyone.
Didn’t realize Truth Social was still up and running...
I’m not into social media, I tried but it does nothing for me. I YouTube some... there’s a lot of vet groups on facebook but I don’t visit and Zuker is too intrusive. I’ve been to rumble just to look and check out Freeper Ginsberg’s latest musical offerings, and was on tumbler for a short until I was exposed to the amount of smut up there, I think Musk deleted my account due to inactivity for years... I’ll follow to an X link but that’s about it.
I thought it odd that Trump fired up Truth Social, and seeing how it’s not doing too well and how his television fame didn’t really pan out too much. Maybe DJT should stick to real estate development. But... how would one ever know until the waters are tested.
Maybe it is a write off at this point.
I don't think one post two and a half months ago could be called "back".
Dude, it's Reuters.
why is it your concern what people are doing or saying here? You sure find something petty to whine about. Plus no one asked for that opinion. just saying.
“Dude, it’s Reuters.”
Go up on Lexus-Nexus, hit Data Source and look up the prospectus yourself then.
Yeah I got all excited to see that post, now nothing.
Yeah, Ok.
Remind me: How many years and how many millions of dollars lost did some other young megabillion tech companies project before they were profitable?
From yesterday:
Hey idiot the Democrats are going to make sure Biden is long gone by next year
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