A new social media venture called Truth Social was launched this Sunday on Apple’s App Store, becoming the top free app on the store early Monday.
The app would compete with Twitter, Facebook and Youtube which all banned the former president following the US Capitol riots early January.
According to the Trump Media & Technology Group (TMTG) corporate presentation Truth Social has 15 million potential monetizable users compared to 211 million average monetizable daily active usage of competitor Facebook. Donald Trump historically reached 146 million social media followers, 89 million in Twitter, 33 million in Facebook and 24 million in Instagram, according to the company’s corporate overview.
TMTG posits in its prospectus that social media will follow the ideological segmentation of newspapers, radio and cable television occurring in earlier phases of US media history.
“TMTG intends to be a fountainhead of support for American freedoms as the first major rival to Big Tech,” notes the company headed by MIT grad and former Director of Emerging Markets Derivatives at Deutsche Bank, Patrick Orlando.