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submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Trump's Truth Social Has Lost $73M Since Launch, New Filing Shows: The company that TMTG is planned to merge with, DWAC, broke out the surprising results in a securities filing Monday.::Truth Social Losses and Revenue revealed for first time as Trump social platform discloses financial data and says it is a "going concern"

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[–] dingleberry@discuss.tchncs.de 3 points 9 months ago (1 children)

To all feeling vindicated: Uber made profit for the first time last year. Startups, and especially Social Media Startups are all about user acquisition, they are expected to run at a loss for several years.

Not to mention, Truth social is not funded by your typical VC. It likely has Russian and Saudi backers, and $73M is loose change for these regimes.

[–] Toribor@corndog.social 1 points 9 months ago

It's worth it as a quarantine zone for MAGA losers. Though Twitter is determined to become the same right wing safe space.