In today's ExchangeWire news digest: Donald Trump launches "Truth Social" app to rival Big Tech; NayaPay secures largest seed funding in South Asia; and Booyah Advertising buy FiveFifty in launch of programmatic media division.
Trump launches social media app to rival Big Tech
Donald Trump has debuted “Truth Social”, a new social media app intended to rival Twitter and Facebook.
The app was developed by Trump Media & Technology, the media start-up Trump created last year to combat what the former president described as the ‘tyranny’ of Big Tech companies. Launched on Monday (21st February), Truth Social quickly topped mobile downloads in Apple’s App Store in the US, but also produced error messages and technical glitches once downloaded.
Truth Social, which operates similarly to Twitter, runs on free, open-source software known as Mastodon. In 2021, Mastodon threatened legal action against Truth Social for breaching their open-source licence by failing to credit their use of the software. Legal action was avoided when Trump Media & Technology added a link to Mastodon to the Truth Social website.
Trump frequently used social media platforms during his 2016 campaign and throughout his presidency, and was banned from Facebook, Twitter, and YouTube in 2021, following his supporters’ attack on the US Capitol. The launch of his own app may be perceived as a retaliation for this ban from existing platforms, and has added to speculation as to whether Trump intends to run...
Read Full Story: https://www.exchangewire.com/blog/2022/02/24/trump-launches-truth-social-to-rival-big-tech-nayapay-cinches-usd-13m-payment-app/
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