Trump’s SPAC: Advocate of a “Non-cancellable” Community
Crazy investors have just launched a SPAC de Donald Trump towards heights. She becomes a GameStop-like action meme in hopes of to support the concept of “Global community ‘non-cancellable'” of the former US president. In short, this is a social network for conservatives.
Digital World Acquisition Corp has announced its fusion with the Trump Media & Technology Group, October 21, 2021. A day later, his actions have climbed 340% to exceed the 35 dollars. The objective of this alliance is the creation of conservative site TRUTH Social.
PSPCs: the new shortcut to going public
The SPAC (special purpose acquisition companies) have become a privileged means for facilitate an IPO. To do this, a front company raises funds through an IPO, promising to find a promising company to acquire. She then uses that money to buy a private business, which will be sold.
Concretely, the Digital World Acquisition Corp registered with NASDAQ will then become Trump Media & Technology Group if the transaction is concluded.
Donald Trump back in the spotlight
Trump did not appreciate his ban from Twitter and Facebook following the riots on January 6. The site TRUTH Social therefore seems to be, for him, the new platform to express yourself freely.
The new announcement assessed Trump’s still-moot business at $ 875 million. If all goes well, a beta version should be launched in November next. The site, meanwhile, should be available from here. early 2022.
Trump Media & Technology Group sees its first ‘non-cancellable’ global community as a “Massive market opportunity”. This company would hope to fight against both the liberal media consortium and big tech. The company plans to first tackle Facebook and Twitter. But subsequently, Netflix, Disney, CNN and iHeart media will also be targeted. To do this, she will create a video on demand and podcast service called TMTG+, offering “Anti-woke entertainment programs”.
Decidedly, the former big boss of the United States absolutely wants to overshadow the social networks that have put him in the way. If his new company breaks into the stock market, there’s a good chance that the news for the next few months will be hot as embers.
I am a technology author with 8 years of experience in journalism. My writing covers the latest technology advancements and trends, drawing on my expertise in news journalism and social media platforms. I have contributed to major media outlets such as The New York Times, The Wall Street Journal, and Reuters.
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