Shares in firm behind Trump’s Truth Social SURGE by 14% as it climbs to the top of the Apple download charts: App recovers from release day hit by glitches and error messages – but there is STILL a huge waiting list
Trump’s Truth Social climbs to the TOP of Apple charts despite glitches – but STILL a huge waitlist
Shares of Digital World Acquisition Corp, the company behind Donald Trump’s new social media venture Truth Social, rose about 14 percent on Tuesday as the app topped downloads on Apple’s App Store.
Trump’s new social platform launched late on Sunday with a host of technical glitches reported by users trying to sign up.
Since then it has been downloaded 170,000 times and has seen a bump in trading with shares hitting $96.36, the highest since October.
The social media venture marks the former president’s return to social media after he was banned from Twitter, Facebook and YouTube last year. His return comes as the U.S. marks Presidents Day.
It’s now the number one free app on iPhones and iPads, followed by HBO Max, an app called Talking Ben the Dog, TikTok and YouTube.
Users who download Truth Social are being put on a ‘waitlist’ hundreds of thousands of places long, despite signups being open for more than 24 hours.
An attempt to open an account on Tuesday morning by DailyMail.com showed at least 372,378 places in line.
It’s more then double the 150,000 waiting list spots reported by CNN the previous day.
But some users have had trouble even making it that far. Since its launch Truth Social has been plagued by sign-up errors and delays.
DailyMail.com’s own reporters received error messages on the page Monday when users are asked to enter their birthdates and on the email verification page.
On Tuesday, another attempt to sign up was stalled by a delay in receiving the required account verification link by email.
Truth Social has not launched on Android phones yet, but a similarly-named app raked in more than 100,000 downloads — many by confused Trump supporters hoping to test his app on their smartphones, Business Insider reports.
‘MAGA Hub – Truth Social Trump,’ made by a Germany-based developer, has been available on the Google Play Store since late August. The bulk of its downloads reportedly happened after February 8.
It charges users $28.99 for in-app purchases.
Reviews left on the app show people believing the photo-aggregating social feed is indeed the former president’s Truth Social.
Trump’s Truth Social marks the former president’s return to social media after he was kicked off Twitter and Facebook last year
‘Come on Trump I thought you were smarter than this. I will be deleting this app right away, it’s just plain dumb,’ a one-star review read.
A more positive review read: ‘Great platform and new as well. No matter your opinions you will be welcome here without being canceled by some new age barking children.’
Mike Rhodes, the CEO of mobile app marketing consultancy firm ConsultMyApp, told DailyMail.com he thinks that the surge of interest likely won’t last long.
‘This new platform is evidently geared up to promote content with a specific viewpoint, rather than harbor a wide range of views on multiple subjects. Echo chamber platforms like this already exist, however, they are by no-means adopted by the masses,’ Rhodes said.
‘My best guess is that the platform will simply end life as a forum for people to reaffirm existing views, with a small but dedicated user base. Eventually it is likely that Mr. Trump will find another media outlet to serve him better. He’ll pack up his bags, and so too will the remaining platform users.’
Trump brushed off his app’s bumpy launch on Monday while waving to adoring crowds outside his Palm Beach golf club.
Dan Scavino, Trump’s social media director who hasn’t been banished from Twitter, tweeted, ‘Happening now outside of Trump International Golf Club in the GREAT state of FLORIDA! AWESOME!! Happy President’s Day.’
The video shows Trump waving and giving a fist bump to his fans, who were lined up behind fencing across the street.
‘We can’t wait until you’re back in office,’ one man is heard saying.
Trump launches app and waves to supporters on President’s Day
In the hours after Truth Social was available to download, the company is already facing legal action.
The British solar technology firm TRAILAR is considering suing Truth Social over its nearly identical logo.
‘Based on recent news brought to our attention by various media outlets, showcasing the similarities between our own TRAILAR logo and the Truth Social logo, we are now seeking legal advice to understand next steps and options available to protect our brand,’ the company told DailyMail.com.
‘TRAILAR has no affiliation or connection with the Truth Social network site, with our business firmly focused on decarbonising global transport through the use of solar and data driven technologies,’ a statement from the company said.
Additionally, people trying to log onto Truth Social are already reporting problems, including receiving error messages and being put on a lengthy waitlist.
The app was available to download shortly before midnight ET and was automatically downloaded to Apple devices belonging to users who had put in pre-orders.
It’s not available on Android phones yet.
Online, users reported a buggy process when trying to sign up.
Potential users posted screengrabs of their place in the long waitlist on Twitter.
Trump’s social platform should be ‘fully operational’ by late March according to Trump Media & Technology Group Chief Executive Devin Nunes, a former California congressman.
TRAILAR’s logo (left) is very similar to the one used by Truth Social (right), and so the British company is mulling legal action
DailyMail.com’s own reporters received error messages on the page to enter a users birthdate (left) and on the email verification page (right)
Ric Grenell, who served as acting Director of National Intelligence during Trump’s one term in office, urged patience with the sign-up process.
‘They are limiting the number of signups per day at first – so be patient and sign up early,’ he tweeted Monday. ‘No more silencing our voices!’
Truth Social is Trump’s alternative social media site meant to combat Big Tech companies like Facebook and Twitter, which he utilized throughout his presidency but now complains censors conservatives and right-leaning voices and perspectives.
Trump was booted from Twitter shortly after the January 6, 2021 Capitol riot as he continued to push claims of election fraud in the 2020 presidential race.
Nunes has also been banned from the platform for the last two years.
‘It’s actually very moving for me to see people that are on [Truth Social] that have had their voice canceled,’ Nunes said.
Truth Social’s app store page detailing its version history showed the first public version of the app, or version 1.0, was available last night for free.
The current version 1.0.1 includes ‘bug fixes,’ according to the page.
TMTG’s team is branding Truth as a First Amendment platform that will not censor voices just because they disagree.
There is excitement surrounding the launch, Nunes said, from people who were ‘booted from social media for the last two or three years.’
Rep. Marjorie Taylor Greene, who can no longer use her personal Twitter account, tweeted from her Congressional handle on Sunday that she had signed up for Truth Social.
Greene got kicked off of Twitter in January for spreading misinformation about COVID-19 vaccines.
Parler and Gettr are two other sites that have branded themselves as less moderated alternatives to Big Tech companies.
Gettr was launched and is run by former Trump spokesperson Jason Miller.
When Trump started promoting Parler after the January 6 attack as a good alternative to Twitter, Apple took it down from its App Store in January 2021.
The application made a return to the store in May of last year.
But so far none of these social media alternatives have come close to matching the popularity of the mainstream counterparts.
Before being banned by Twitter, Trump had some 89 million followers there and used the platform constantly, both for presidential statements and to attack rivals.
TRUTH social teases new social media platform backed by Trump
‘TRUTH is coming…’ congresswoman Elise Stefanik, the third-ranking House Republican, tweeted Friday, in an allusion to the ominous ‘Winter is coming’ catchphrase of television series Game of Thrones.
She posted a screen grab of her message on Truth Beta, the test version of the new site, saying, ‘I’m so excited to be on TRUTH!’
And Donald Trump Jr. celebrated on Twitter, posting, ‘Time for some Truth!!!’ and including what he said was his father’s first post on Truth Social: ‘Get Ready! Your favorite President will see you soon!’
TMTG remains mostly shrouded in secrecy and is regarded with skepticism by some in tech and media circles.
It is unclear, for example, how the company is funding its current growth.
TMTG is planning to list in New York through a merger with blank-check firm Digital World Acquisition Corp (DWAC) and stands to receive $293 million in cash that DWAC holds in a trust, assuming no DWAC shareholder redeems their shares, TMTG said in an Oct. 21 press release.
Additionally, in December TMTG raised $1 billion committed financing from private investors; that money also will not be available until the DWAC deal closes.
Digital World’s activities have come under scrutiny from the Securities and Exchange Commission and the U.S. Financial Industry Regulatory Authority, according to a regulatory filing, and the deal is likely months away from closing.
