Donald Trump reveals plans to launch social media platform TRUTH Social to 'fight' big tech

Donald Trump reveals plans to launch social media platform TRUTH Social to 'fight' big tech.

After being banned from several social media platforms, former US president Donald Trump has announced plans to launch his own app, TRUTH Social, in a bid to "stand up" to bigger companies. .

TRUTH Social will be created through a new company formed by a merger of the Trump Media and Technology Group and a special purpose acquisition company (SPAC), both organisations said in a statement. .

"Tonight my father signed a definitive merger agreement to form what will ultimately be the Trump Media and Technology Group and TRUTH Social — a platform for everyone to express their feelings.".

The deal will list Trump Media and Technology Group on the Nasdaq through a merger with Digital World Acquisition Corp, a blank-cheque acquisition firm led by former investment banker Patrick Orlando.

Shareholder redemptions reduce the amount of cash that Digital World Acquisition Corp will have available to give to Trump Media and Technology Group at the closing of the deal