Truth Social faces harsh reality as a public company

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.

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