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 ...
Truth Social is doing excellent, as is the imminent merger with DWAC to bring TMTG public. The media reporting on this ‘loss’, etc., are lying liars that lie.
https://truthsocial.com/@truthsocial/111409505405198857
you’re loss as that site is crankin’
Truth Social faces the same problem that the Fox News evening line up faces...
Very difficult to get main stream advertisers.
Twitter had just TWO profitable years before Musk paid a completely insane $44 billion for it.
Think about that...
In business for seventeen years.
Had to borrow money or dilute the stock price in 15 of those years!
No doubt Musk can add value by creatively integrating Twitter [aka X] into his other businesses.
Regardless - no one in the world would pay $44 billion for Twitter today.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.