Truth Social faces harsh reality as a public company
The Truth social network logo is seen displayed in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration
DADO RUVIC
Posted
Sara Fischer | Axios
Truth Social — the Trump-owned social media platform that started trading yesterday (March 26) — currently has far fewer users and less income than any social network that has gone public before.
Why it matters: While the app does sell some ads, its business is practically non-existent.
Truth Social earned $3.4 million in revenue for the first nine months of 2023 and it lost around $49 million.
By comparison, Facebook (now Meta) earned $3.71 billion in revenue the year before it went public and was profitable.
Comments
No comments on this item Please log in to comment by clicking here