General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's Truth Social website hasn't paid rent in 6 months. Owes 1.6 million to webhost-company.
https://www.salon.com/2022/08/26/trump-never-pays-his-bills-truth-social-reportedly-stiffs-contractor-amid-financial-disarray/The company entered into an agreement with Truth Social in October. Sources told Fox Business that Truth Social made just three payments and hasn't paid anything since March. The company is now threatening legal action unless it is paid, according to the report.
RightForge CEO Martin Avila did not deny the report but told the outlet he would not comment on "any private matters."
"RightForge believes in the mission of President Trump's free speech platform and wish to continue supporting the president in his media endeavors," he said in a statement.
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RightForge, which aims to provide right-wingers with alternatives to Silicon Valley products, previously announced big plans for Truth Social. Avila told Axios last year that the company was "laying the groundwork" for Truth Social to compete with Twitter and have more than 75 million users.
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The network got off to a disastrous launch as users were plagued by technical glitches, outages and an extensive waitlist. Truth Social's planned merger with Digital World Acquisition Corp., a special purpose acquisition company (SPAC), has been indefinitely delayed amid questions about its financial health. The blank check company is facing a Securities and Exchange Commission investigation into whether it illegally negotiated the Truth Social deal before going public. The company was also subpoenaed by a federal grand jury in New York last month amid a Justice Department investigation into the merger.
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Trump has also complained about his app's absence from the Android app store, with the app only available for download on iOS devices.
"Is Google trying to f**k me?" he questioned over the spring, according to Rolling Stone, even though a source told the outlet at the time that Truth Social had not even submitted an app for Google to review because it was still in development.
The former president suffered another setback after the U.S. Patent and Trademark Office denied his application to trademark "Truth Social." The office determined that the company's name is "confusingly similar" to the social media platform Vero True Social and the Truth Network, a Christian radio network.
Sanity Claws
(21,857 posts)That's what happens when mere mortals fail to pay their phone or internet provider for a month. Trump's hasn't paid in 5 or 6 months.
lindysalsagal
(20,733 posts)Srkdqltr
(6,329 posts)tanyev
(42,626 posts)Autumn
(45,120 posts)You know he thinks that.
Retrograde
(10,162 posts)just for the chance to bask in the Orange One's reflected glory! Just think of all the free publicity they'll be getting!
It's hard to tell who's the worst businessperson in this mess - Donnie, L'il Devin, or whoever at the hosting company thought extending credit to a Trump scheme was a good idea.
Yo_Mama_Been_Loggin
(108,234 posts)RestoreAmerica2020
(3,439 posts)Also..have no fuc#s to give para odious criminale ffg and his ghoulish sycophants...
HipChick
(25,485 posts)after a couple of months default status...
jmowreader
(50,566 posts)RightForge, which was founded in 2021 - probably specifically to host Trumps site - claims it provides cancel-proof hosting.
If they go on to cancel Trumps contract because Trump has decided to screw them out of hosting fees like hes screwed every other vendor who has ever worked with him, its going to kill his company.
If they dont cancel the contract because a new business cant afford to lose $3.2 million a year, that will kill his company.
And knowing Trumps business practices, I can only assume they have a no setting up a GoFundMe account or getting a job delivering pizzas to defray the costs of my site being on your servers for free clause in there.
I checked. Theyre not in New York, which is obvious because every New Yorker knows the cardinal rule of business is dont do any with Donald Trump.
LetMyPeopleVote
(145,627 posts)Fox Business has more detains on this financial meltdown
Link to tweet
https://www.foxbusiness.com/features/trump-social-media-app-facing-financial-fallout
If the allegations are true, they would suggest that Truth Socials finances are in significant disarray, people with direct knowledge of the matter say. Internet infrastructure company RightForge is said to be among Truth Socials largest vendors and creditors, these people say.,,,,,
But Truth Socials launch has been anything but smooth. Its early rollout was plagued with technological glitches. More recently, its planned merger with Digital World Acquisition Corp., a special purpose acquisition company, or SPAC, has been put off indefinitely amid various probes into its business dealings, including a Justice Department grand jury probe and an investigation by the Securities and Exchange Commission.
Digital World and Trump Media have said they are cooperating with the probes even if they appear to be a significant stumbling block in completing the merger. In a recent regulatory filing, Digital World said it is seeking shareholder approval to delay the Sept. 8 deadline for combining the companies until next year as the investigations swirl.
In the same filing, Digital World said: "If President Trump becomes less popular or there are further controversies that damage his credibility or the desire of people to use a platform associated with him, and from which he will derive financial benefit, [Trump Medias] results of operations, as well as the outcome of the proposed Business combination, could be adversely affected."....
In a May regulatory filing, Digital World stated: "There is no operating history upon which to base any assumption as to the likelihood that [Trump Media] will prove successful and [Trump Media] may never generate any operating revenues or ever achieve profitable operations. If TMTG is unsuccessful in addressing these risks, its business will most likely fail."
The filing added that Truth Social doesnt yet generate revenues and "may begin to generate revenue from the Truth Social platform as early as 2023."