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- 45th President of the United States
Former President Donald Trump's Truth Social app has missed its November beta app launch deadline.
Trump's team projected that the app, which was announced in October, would have a beta version ready by the end of November.
At press time, the platform had not announced an operational beta app launch, and its Apple app store page still listed it as still in 'pre-order' mode.
Former President Donald Trump's new social media platform, Truth Social, appears to have missed its first product launch deadline — the kick-off of a beta version by the end of November.
At press time, Insider saw that Apple's app store page for Truth Social still listed the app as being under a "pre-order" stage, with no options available for a beta download.
In October, Trump spokeswoman Liz Harrington posted a press release on Twitter claiming the new app, which is slated for a 2022 launch, would have a beta launch this November for "invited guests" — that is, people signed up as beta testers.
Neither Harrington nor Truth Social's website has provided any updates on the beta launch. On Monday night, the site displayed a sign-up page for the app's waiting list. Trump Media and Technology Group's (TMTG) website, the organization backing Trump's foray into social media, also failed to provide updates.
Insider has reached out to Trump's representatives for comment.
Separately, an exclusive report from Reuters noted that TMTG appeared to be seeking an additional $1 billion in funding by selling off shares at higher prices compared to its October valuation. Citing unnamed sources, Reuters reported that TMTG was seeking to raise an extra $1 billion, valuing the group at $3 billion, up from its initial $875 million valuation back in October.
Reuters also cited insider sources, reporting that Trump was making phone calls to investors asking for them to commit more than $100 million each to the venture. According to Reuters, investors at a roadshow were also shown a demonstration from the app, which looked very much like a Twitter feed.
CNBC reported as well that the stock price of Digital World Acquisition Corp., the SPAC company that announced its merger with TMTG, had slid from trading at $175 per share in October when the merger was announced to around $44 on Wednesday.
Insider reported in October that Truth Social did run into some difficulties after it got announced. For one, Twitter users took just two hours to expose Truth Social's web-based beta site's vulnerabilities by hopping into the platform and creating dummy accounts for Trump and former Vice President Mike Pence. Hackers affiliated with the group Anonymous also made their way onto the beta site, creating fake accounts for Trump and Steve Bannon, and posted pictures of a defecating pig.
It is unclear when the beta app for Truth Social will be launched or why there is a delay. TMTG did not immediately respond to a request for comment from Insider.
Truth Social was announced in October and is meant to be Trump's alternative to social media platforms like Facebook and Twitter. The former president has been permanently banned from Twitter. He is also barred from Facebook until at least January 2023.
In the October press statement, Trump said he wanted Truth Social to "stand up to the tyranny of Big Tech." However, the platform appears to closely resemble Twitter. This ranged from its "Truth Feed," which bore similarities to Twitter's news feed, to options to re-post posts via a "re-truth" — similar to Twitter's re-tweeting function.
Read the original article on Insider