Trump’s social media company is seeking to raise up to $1 billion.
We reported on this but left out a MASSIVE part.
Zero Hedge pointed out that this is going to be much more than just a new social media platform.
A subscription video-on-demand service is also going to be launched after.
It will provide news, podcasts, and other forms of entertainment.
The third stage is ompeting against Amazon.com’s AWS cloud service and Google Cloud.
Trump Media & Technology Group and Digital World have asked investors to finalize commitments to the PIPE by the middle of December, the sources said.
In a PIPE road show attended by one of the sources, investors were asked to commit between $10 million and $20 million. Neither Trump nor Digital World executives made an appearance, and the investor presentation was led by David Boral, the president of EF Hutton, an investment bank that advised Digital World on the deal, the source said. A Trump Media & Technology Group representative was also in attendance, the source added.
TRUTH Social is scheduled for a full rollout in the first quarter of 2022, and is the first of three stages in the Trump Media & Technology Group’s plans, followed by a subscription video-on-demand service called TMTG+ that will feature entertainment, news and podcasts, according to the news release.
In a slide deck on its website, the company envisions eventually competing against Amazon.com’s AWS cloud service and Google Cloud.
Big things are coming!
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