"Top flow" has failed?After half a year of high -profile launch, the Trump social platform is facing financial challenges

According to reports, Truth Social, a former US President Trump's new social media platform, fell into financial difficulties. It is reported that Truth Social has suspended payment to the network hosting company RightForge and owed $ 1.6 million in debt.

The digital world acquisition company (Digital World Acquisition), a "Trump Media and Technology Group", who has planned to merge with Truth Social's parent company, said the website was very "high -profile" at the time of its first place, but there is no source of affordable income sources and the source of income and Development is also doubtful. The company warns that if Trump "becomes not so popular" or has caused further controversy and damage to reputation, its related business will also be affected.

It is understood that the "Digital World" lost nearly $ 6.5 million in the first half of 2022, and its stock price also plunged nearly 75%from the peak in March.

↑ Truth Social, a former US President Trump's new social media platform, falls into financial difficulties

Earlier, after being banned by social platforms, former US President Trump launched his social platform Truth Social. When the platform was launched, it was very popular, but the download volume began to plummet quickly. "Digital World" said that the social platform needs millions of people to "use them frequently" to have the opportunity to succeed, but the platform's most popular account number-Trump's account is only less than 4 million fans. In comparison, Twitter claims that 37 million active users in the United States are using its platform every day.

It is reported that when Trump's private manor was searched by the Federal Investigation Bureau, Truth Social once became Trump's supporters of "anger". However, according to data from the analysis company Similarweb, Truth Social's views have declined within a few days after the raid search, and the number of online people has also dropped from 1.5 million to 300,000 that day.

According to reports, the "Digital World" said that he had received a jury submission in June and faced a survey from the US Department of Justice and the US Securities and Exchange Commission, which may "indefinitely" freeze the previous merger plan with Trump. It is reported that the US Department of Justice and the US Securities and Exchange Commission are investigating the transaction between the company and Trump's media companies. The two companies originally hoped that the merger would bring new funds. It is reported that the "digital world" has always been skeptical of whether Truth Social can achieve success. The company also pointed out that "some companies related to Trump have applied for bankruptcy before and cannot guarantee (Trump's media company) will not go bankrupt."

In terms of basic operations, the US Patent and Trademarks also previously rejected the company's application for the "Truth Social" trademark. It is reported that in 2015, there was a application named "Vero-True Social", and the authorities believed that the name "Truth Social" could be confused with it.

It is also reported that during the critical period of Truth Social, the company's technical director Josh Adams and Billy Boozer, the product development director Billy, resigned. In addition, Devin Nunes, CEO of the "Trump Media and Technology Group", and Trump's firm ally, will also face investigation. It is understood that Nourz once sued the media group Hearst, and the local judge William Matthewman earlier ruled that the "Trump Media and Technology Group" must be "Hehe" to "Hehe". Ste "provides employment information about Nunns. Data show that since he took office in January, Nenez's annual salary was $ 750,000, and it is expected to increase the salary to $ 1 million in two years.

Red Star News reporter Li Jinrui

Editor Deng Yiguang Editor Wang He

- END -