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Truth Social

Truth Social
Logo used since February 2022
Type of site
Social networking service
Available inEnglish and Portuguese[1]
FoundedOctober 20, 2021 (2021-10-20) in Sarasota, Florida
Area servedWorldwide
OwnerTrump Media & Technology Group
Founder(s)
CEODevin Nunes
URLtruthsocial.com
RegistrationRequired
Usersestimated 607,000 monthly users (as of July 2023)[3]
LaunchedFebruary 21, 2022 (2022-02-21)
Current statusActive
Native client(s) on
Written in

Truth Social (stylized as TRUTH Social) is an alt-tech[4][5][6] social media platform owned by Trump Media & Technology Group (TMTG), an American media and technology company majority-owned by 45th U.S. president and current President-elect Donald Trump.[7] It has been called a "Twitter clone" that competes with Parler, Gab, and Mastodon in trying to provide an alternative to Twitter and Facebook.[4][6][8][9] Truth Social uses Mastodon as its backend.[10]

The service was launched on February 21, 2022.[11] Since mid-2022, Truth Social has been facing financial and regulatory issues. The application was initially not available on Google Play because of violations of Google policies prohibiting content with physical threats and incitement to violence, but was approved for Google Play in October 2022 after agreeing to enforce policies against incitement.[12]

As of March 6, 2023, it was ranked number 101 in Apple's App Store rankings for social media apps,[13] and SimilarWeb ranked its website as number 203 in their "News & Media Publishers" category, behind Gab at number 154, but ahead of Parler at number 1,052.[14][15] Trump estimated in an April 2023 personal financial disclosure that the site's value ranged from $5 million to $25 million.[16]

Digital World Acquisition Corporation (DWAC), the special-purpose acquisition company formed to fund Truth Social's parent company TMTG and take it public, disclosed in October 2023 that it was refunding to investors the $1 billion it had raised for TMTG.[17] A November 2023 financial disclosure by DWAC indicated that Truth Social had made a cumulative loss of at least $31.5 million since its inception.[18] In March 2024, DWAC shareholders voted to merge with TMTG, with the merged company trading on NASDAQ under the stock ticker DJT.[19][20]

In May 2024, TMTG's regulatory filing for the first quarter of 2024 reported $327.6 million in losses, largely resulting from taking the company public, and $770,000 in revenue.[21]

  1. ^ "Truth Social on the App Store". App Store. Apple. Retrieved April 5, 2024.
  2. ^ a b Harwell, Drew (February 29, 2024). "Trump Media co-founders sue company, alleging a scheme to dilute shares". The Washington Post. Retrieved March 1, 2024.
  3. ^ Katie Paul; Akash Sriram (July 10, 2023). "Meta's Twitter rival Threads surges to 100 million users faster than ChatGPT". Reuters.
  4. ^ a b Goldstein, Matthew; Mac, Ryan (February 18, 2022). "Trump's Truth Social Is Poised to Join a Crowded Field". The New York Times. Archived from the original on February 24, 2022. Retrieved April 26, 2022.
  5. ^ Cite error: The named reference Statista_2/6/2023 was invoked but never defined (see the help page).
  6. ^ a b Zara, Matt; Errens, Julia (March 8, 2022). "Alt-Tech's Conservative Digital Campfires". Stylus. Archived from the original on July 10, 2022. Retrieved July 9, 2022.
  7. ^ Jacobson, Don (April 1, 2024). "Shares of Trump Media plunge after release of weak Truth Social sales figures". UPI. Retrieved April 5, 2024.
  8. ^ Cite error: The named reference BBC News 2021-10-21 was invoked but never defined (see the help page).
  9. ^ Thompson, Stuart A.; Goldstein, Matthew (November 1, 2022). "Truth Social's Influence Grows Despite Its Business Problems". The New York Times. Archived from the original on November 3, 2022. Retrieved November 3, 2022.
  10. ^ Cite error: The named reference Vice Mastodon was invoked but never defined (see the help page).
  11. ^ "Donald Trump's social media app launches on Apple Store". The Guardian. February 21, 2022. Archived from the original on May 1, 2022. Retrieved August 29, 2022.
  12. ^ Cite error: The named reference :12 was invoked but never defined (see the help page).
  13. ^ "Truth Social Stats: Ranking in Apple App, Downloads & Users". Similarweb. Archived from the original on May 14, 2022. Retrieved August 29, 2022.
  14. ^ "truthsocial.com Traffic Analytics & Market Share". Similarweb. Archived from the original on August 28, 2022. Retrieved August 29, 2022.
  15. ^ "gab.com Traffic Analytics & Market Share | Similarweb". Similarweb. Archived from the original on November 18, 2020. Retrieved August 29, 2022.
  16. ^ Price, Michelle L. (April 14, 2023). "Trump reports little income from Truth Social, $1M from NFTs". Associated Press. Archived from the original on April 15, 2023. Retrieved April 15, 2023.
  17. ^ Cite error: The named reference :14 was invoked but never defined (see the help page).
  18. ^ Weprin, Alex (November 13, 2023). "Trump's Truth Social Lost Tens of Millions Since Launch, New Filing Shows". The Hollywood Reporter. Retrieved November 14, 2023.
  19. ^ "Trump Endorses Truth Social Amid DWAC Stock Plunge: A Tale of Social Media Merger Drama". International Business Times UK. March 25, 2024. Retrieved March 25, 2024.
  20. ^ "Check out Trump Media & Technology Group Corp's stock price (DJT) in real time". CNBC. January 29, 2012. Retrieved April 22, 2024.
  21. ^ Cite error: The named reference qtr1 was invoked but never defined (see the help page).
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