Trump’s Truth Social app loses $31.6M since launching
11/18/23
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from FoxNews,
11/15/23:
Truth Social, the social media platform founded by former President Trump as a rival to Big Tech, lost $31.6 million from its launch in early 2022 to mid-2023.
The figures were revealed Monday via a securities filing by Digital World Acquisition Corp (DWAC), a special purpose acquisition company that plans to merge with the company, according to Reuters.
In 2022, Truth Social posted a profit of $50.5 million, with net sales of $1.4 million. It lost $23 million in the first half of this year with net sales of $2.3 million, according to the filing.
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