Former US President Donald Trump is launching his own social media application, "Truth Social", which he said will challenge major technology companies such as Twitter and Facebook that have prevented him from interacting on their platforms.

According to a press release distributed by Trump's media and technology group and Digital World Acquisition, a private acquisition company, the new app will be created by a new company formed under the merger between the two companies.

"We live in a world where the Taliban has a massive presence on Twitter, while your favorite American President is being silenced. This is unacceptable," Trump said in a written statement.

"I'm excited to be sending out my first facts on Truth Social soon. The Trump Media & Technology Group was formed to give everyone a voice. I'm excited to soon begin sharing my thoughts on Truth Social and responding to the big tech companies," he said.

A Trump representative, who declined to be named, confirmed to Reuters the content of the Trump group's press release.

Trump spokeswoman Liz Harrington also posted a copy of the statement on her Twitter account.

According to the statement, the Trump Group and Digital World will merge into a publicly traded company if regulators and shareholders agree.

Truth Social plans to conduct a beta launch for invited guests in November, followed by a nationwide rollout in the first quarter of 2022.

The new company also has plans to introduce a video-on-demand subscription service that will feature entertainment, news and podcasts.