Truth Social

[finnbow]

Former president Donald Trump’s Truth Social website is facing financial challenges as its traffic remains puny and the company that is scheduled to acquire it expresses fear that his legal troubles could lead to a decline in his popularity.

Six months after its high-profile launch, the site — a clone of Twitter, which banned Trump after Jan. 6, 2021 — still has no guaranteed source of revenue and a questionable path to growth, according to Securities and Exchange Commission filings from Digital World Acquisition, the company planning to take Trump’s start-up, the Trump Media & Technology Group, public...

The company also has struggled with some basics of corporate operation. The U.S. Patent and Trademark Office this month denied its application to trademark “Truth Social,” citing the “likelihood of confusion” to other similarly named companies, including an app, “VERO — True Social,” first released in 2015.

https://www.washingtonpost.com/techn...ar-a-lago-fbi/

So, Trump's Truth Social looks to be about as successful as Trump steaks, Trump water, Trump Airlines, Trump University, Trump (charitable) Foundation, Trump casinos ..... LOL.

[Pio1980]

Isn't that chump change for an actual billionaire (that isn't an overvalued chump)?

[finnbow]

Originally Posted by Pio1980

Isn't that chump change for an actual billionaire (that isn't a an overvalued chump)?

Beyond the insult to his ego, if (when?) Trump Social goes belly-up he'll no longer have an outlet for his incessant whining and lies. Sad.

[RickeyM]

Originally Posted by finnbow

Beyond the insult to his ego, if (when?) Trump Social goes belly-up he'll no longer have an outlet for his incessant whining and lies. Sad.

It seems like that alone would have prompted him to cough up. I guess he's saving up for his running money.

[finnbow]

Devin Nunes is going to need to look for a new job, it appears.

[bobabode]

Everything the Ochre Orc touches shrivels and dies in bankruptcy - https://www.rawstory.com/trump-truth-social-2657953237/

[RickeyM]

Originally Posted by finnbow

Devin Nunes is going to need to look for a new job, it appears.

[Rajoo]

I read about this yesterday. Even the trade mark office didn't like the term Truth Social. (kidding)

Trump's Truth Social has trademark application denied as setbacks pile up

The big picture: Truth Social and the SPAC looking to take its parent company public have faced enormous legal and technical challenges ever since the app was announced last October.

Last week, Digital World Acquisition Group (DWAC), the blank check company that plans to merge with the parent company Truth Social to take it public, looked to delay its earnings report
The week before it asked shareholders to approve an extension of its merger agreement by a year.
The Truth Social app missed its launch deadline, putting thousands of users on a waitlist for weeks.
The SPAC is under investigation by the SEC for possibly negotiating their deal prior to DWAC going public, which is illegal if true.
An investor sued the SPAC's CEO last year claiming fraud.
There's been confusion regarding whether or not certain members of the board are still on the board.

https://www.axios.com/2022/08/25/tru...ademark-denied

[finnbow]

An executive at Trump Media said he was removed from the Board after he refused Trump’s demand to give some of his shares in the company to Melania, and has now turned over messages, documents and audio to SEC alleging fraud.

https://www.washingtonpost.com/techn...whistleblower/

"...plans gave way to bitter infighting, technical failures and a chaotic jockeying for power among Trump allies that undermined its potential and left some employees crying at their desks."

...Investors, discouraged by the halted merger, have sent the SPAC’s share price plunging from a high of $175 to less than $18 on Friday.

[bobabode]

Originally Posted by finnbow

An executive at Trump Media said he was removed from the Board after he refused Trump’s demand to give some of his shares in the company to Melania, and has now turned over messages, documents and audio to SEC alleging fraud.

https://www.washingtonpost.com/techn...whistleblower/

"...plans gave way to bitter infighting, technical failures and a chaotic jockeying for power among Trump allies that undermined its potential and left some employees crying at their desks."

...Investors, discouraged by the halted merger, have sent the SPAC’s share price plunging from a high of $175 to less than $18 on Friday.

Come Monday it should become a penny stock. Interesting article, Finn.