Trump Launches a New Social Network Called Truth Social

"Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) have entered into a definitive merger agreement, which provides for a business combination that will result in Trump Media & Technology Group becoming a publicly traded company," a company release said.

In the release, former President Trump, who chairs the company, said he created TMTG and Truth Social "to stand up to the tyranny of big tech."

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"We live in a world where the Taliban (a movement outlawed in Russia as terrorist) have a huge presence on Twitter, but their favorite American president has been silenced. This is unacceptable. I'm excited to launch my first 'truth' on Truth Social very soon," Trump said.

TMTG was founded "with a mission to give everyone a voice," the former president said.

"I'm excited to soon start sharing my thoughts on Truth Social and fighting back against big tech. Everyone asks me why someone doesn't take on big tech. Well, we will soon!" he noted.

Trump was banned from social networks such as Twitter and Facebook following the assault on the Capitol in Washingon on January 6 by supporters of his administration who rejected the results of the November election in which Democrat Joe Biden won.

The platforms considered that their activities in relation to the incident violated their policies.

Last March, the media outlet Axios reported, citing various sources, that Trump was negotiating the creation of his own social network with several application providers.