Truth Social is facing financial challenges.
The Truth About Truth Social
Fox Business reported that Donald Trump’s Truth Social is not paying its web hosting service, thereby, owing $1.6 million. It indicates that the former US president’s social media platform is hurting financially.
Truth Social has a contract with RightForge, the web hosting service. But the report shows that the social media platform only made three monthly payments since the two started working together.
Since March, it has not made new payments.
The company threatens to sue Truth Social to recoup the money.
The traffic to the said social media platform remains low. Digital World was scheduled to acquire it. But it fears the former president’s legal trouble could dwindle his popularity.
Truth Social is a clone of Twitter. It launched after Trump was banned in 2021. Unfortunately, up to now, it’s still struggling to become lucrative. It has no signs of growing.
The company that plans to take Trump’s startup warned that its business could be destroyed if the former president becomes less popular or he faces more controversies that would damage his credibility.
Trump uses Truth Social as one of his online megaphones. After the FBI searched Trump’s Florida estate, Trump used the said platform to react to the event.
The said platform also struggled to obtain a trademark for Truth Social. The US Patent and Trademark Office denied its application stating the “likelihood of confusion” to other similar companies, such as VERO — True Social, which was released in 2015.
Trump’s representatives did not respond to requests for comment.
RightForge advertised as a pillar of conservative push to create an Internet protected from the expurgation of the Big Tech. But it did not comment on the report.
Over the years, Trump’s businesses have faced similar payment battles. Digital World noted that some companies associated with Trump have already filed for bankruptcy. There’s no assurance that the former president’s media company will not become insolvent.
Trump Social has become the online platform of many conservatives, especially Trump supporters. For instance, an armed man killed after he tried to storm an FBI office had been a user of Truth Social. In his posts, he urged followers to kill FBI agents on sight.
Unfortunately, after the Mar-a-Lago search, the platform’s viewership slowed down. Its US audience also tumbled to 300K views a day from nearly 1.5 million a day.
Even when it launched in February, the site’s reputation was tarnished by fake accounts. It also suffered from technical glitches and a long waitlist. The site’s online popularity at this time was at its peak.
But Trump disputed the reports about the platform’s slow user growth. According to him, “The Fake News Media is devastated by how well TRUTH is doing so, quite on cue, they are working overtime to criticize and demean it. Actually, many of the big guns in Washington, D.C., are fighting to stop the TRUTH but, they won’t be successful. They are going after the outside financial company, and virtually anybody that walks and breaths, but that won’t do it. They said it is doing worse since the Raid, but actually it is doing MUCH better, up more than 550%. We all love TRUTH!!!”