kyiv.Ukraine.Ukraine Gate – December 5,2021- In preparation for the launch of shares on the US stock market, Donald Trump’s new social network has signed agreements to attract investments of about one billion dollars.
A statement issued by Trump Media and Digital World said $ 1 billion would be raised through private investment in public equity (PIPE) from an unnamed “institutional investor group.”
According to Reuters, this may indicate the ability of the former US president to raise significant funds for personal and political brand. He is currently working on a social networking application called TRUTH Social, which is expected to launch in a few weeks.
The Digital World Acquisition, which will list Trump Media & Technology Group Corp., has said it will allocate up to $ 293 million to work with Trump’s media company, resulting in a total revenue of about $ 1.25 billion.
Trump Media signed a $ 875 million deal with Digital World in October, including debt. Currently, the value of the company in the field of social networks is estimated at almost $ 4 billion, judging by the share price of Digital World as of Friday.
At the same time, some Wall Street investors are reluctant to contact Trump, who was banned from using leading social networks after his supporters attacked the Capitol.
The full deployment of TRUTH Social is scheduled for the first quarter of 2022, according to a press release from the company. This is the first of several stages of the Trump Media plan. An on-demand video subscription service called TMTG + is expected to launch in the future, featuring entertainment, news and podcasts.
