by Ben Whedon
"I jokingly say we now get to become an actual startup with real financing, and getting access to the capital markets that most conservative companies have had a tough time to do," CEO Devin Nunes said.
With Truth Social poised to receive a windfall of cash as it hits the stock exchange on Tuesday, Donald Trump’s social media platform has set its sights on enhancing its user experience with streaming video and Reddit-like groups.
The Trump Media & Technology Group, which owns Truth Social, recently completed a long-delayed merger with Digital World Acquisition Corp. and the platform is slated to appear on the stock exchange on Tuesday, using the ticker "DJT" in homage to its majority shareholder, the former president.
Trump currently controls 58% of the company's stock, with an estimated market value of $3 billion, according to the Associated Press. The entire company could be worth as much as $5 billion. His net worth on Monday soared to estimated $6.5 billion record ahead of the IPO, Bloomberg Law reported.
The company's public debut is expected to bring in considerable funds to fuel the company's growth.
Trump Media & Technology Group CEO Devin Nunes held the stock market debut during an appearance Monday night on the Just the News, No Noise television show.
"I jokingly say we now get to become an actual startup with real financing, and getting access to the capital markets that most conservative companies have had a tough time to do,” Nunes said.
"Because remember, we're a real threat. We're trying to create an opportunity so that people can always access the internet, but they're not going to be shut down by Big Tech," he added. "And we're one of the only games in town. And now we're actually going to be a true startup. So we're very pleased."
Nunes said the platform was exploring was to expand its capabilities and differentiate itself from other platforms.
"I think we've talked about this before on your show, I think when we launched it, but we have our groups feature that's very similar to Reddit," he said. "You can come on instead of going to Reddit or Facebook groups, you come on and create a group. We've got a lot of really fun groups on Truth Social, for cooking for wine, for politics, you know, photography... we're trying to take the best of all the platforms [and] put it into one. But I think most importantly, is that highway, the internet superhighway; we're not beholding to these big tech tyrants that destroyed a company like Parler."
"That's a real fun one, because it's something totally different that a lot of people don't have... and we keep making it better," he said of the groups feature. "So that one's already it's been launched, but we're making improvements to it. The other issue that we've disclosed publicly... we've got 1000s of people now that are testing out our new streaming capability."
Nunes said expansion was also planned for the platform’s streaming video offerings.
"[W]e've publicly disclosed that, you know, we are trying to incorporate streaming," he said. "So let's say a Real America's Voice gets kicked off of all all television platforms. We want to make sure there's a home for Real America's Voice."
"So that's something we're looking at is streaming, we've been testing it, developing it. So stay tuned. There's more to come," he added.
Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.
Source: https://justthenews.com/accountability/media/tuetruth-social-eyes-streaming-chat-group-expansions-platform-hits-stock
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