Truth Social keeps shrinking despite the Trump trial and looming election [View all]
Former President Donald Trump hit the jackpot this spring when his social media company finally went public.
Even though Trump Media & Technology Group (DJT) generates very little revenue, investors are assigning an eye-popping valuation north of $9 billion to the company. Trump’s dominant stake in Trump Media is now valued at nearly $6 billion.
Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller.
Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company.
https://www.cnn.com/2024/05/03/media/truth-social-stock-trump-djt/index.html
Never rains, but it pours.
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