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Trump’s social media to raise $1bn
The firm behind Donald Trump’s highly anticipated social media firm says it has entered into agreements to raise one billion dollars from investors in the lead up to its stock market listing
The Trump Media and Technology Group is working to launch the social media app called “Truth Social” early in 2022.
This comes as the former president remains blocked from using both Twitter and Facebook following the January 6 Capitol riots.
Trump says the money that will be raised “sends an important message to Big Tech that censorship and political discrimination must end”.
Plans to launch Truth Social were revealed earlier this year, with the company saying it will allow conversation “without discrimination on the basis of political ideology”.
The firm says it has secured the one billion dollars in funding from a range of investors, without naming who they are, with the company now valued at around 4-billion.