The future social network launched by Donald Trump is already mobilizing investors.

The company to give birth to the future platform of the former US president and the company with which it must merge to go public said on Saturday that a group of institutional investors had pledged to provide a billion dollars .

This sum would be in addition to the $ 293 million already recovered by the "Spac" Digital World Acquisition Corp when it arrived on Wall Street in September, details a press release.

$ 1.25 billion in total to fund "Truth Social"

By removing the transaction fees, Trump Media & Technology Group should recover $ 1.25 billion to finance the launch of the social network of the former White House tenant, adds the document.

The two companies did not say who the investors pledged to provide the funds were.

Donald Trump announced at the end of October that the company to support its future social network would merge with Digital World Acquisition Corp, an acquisition company with a specific vocation, or "Spac" in English.

This fashionable financial instrument is like an empty shell raising funds on the stock market by committing to get closer in the following months to a promising company, thus allowing the latter to enter Wall Street without the traditional process.

An alternative to Facebook, Twitter and YouTube

Entitled "Social Truth", the future platform was presented by the former president as an alternative to Facebook, Twitter and YouTube from which he is banned for having incited his supporters to violence before the assault on Capitol Hill on January 6.

Currently available for pre-order on the App Store, it should theoretically be launched in the first quarter of 2022.

Driven by the interest of individual investors, the action of "Spac" had skyrocketed after the announcement of its merger with Donald Trump's company, from around $ 10 to a peak of $ 175 in two days.

However, it fell back after this initial craze and closed at $ 45 on Friday, giving it a valuation of $ 1.67 billion.

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