Truth Social misses another deadline as users report waitlist issues
Former President Trump’s social media app Truth Social remains unavailable for many, despite promises that it would be "fully operational" in the U.S. by Thursday.
Why it matters: Trump fans flooded into a SPAC that agreed to take Truth Social public and could lose their investments if the app doesn't get its act together.
- The SPAC is said to be under federal investigation and Thursday missed a filing deadline because of what it said were accounting delays.
- Shares of that SPAC are down 35% since March 4, and down 64% from their all-time high, including a 2% dip on Friday.
Behind the scenes: Sources tell Axios that tech issues are likely what's preventing the app from being released to all interested users.
Details: When Truth Social first appeared in Apple's App Store, it told people to expect a Feb. 21 launch date. But, when Presidents Day hit, prospective users were given waitlist numbers that, for many, still haven't changed.
- Truth Social CEO and former Rep. Devin Nunes subsequently said the goal was for the app to be "fully operational" by the end of March.
- It didn't happen.
- There have been some indications of progress, including Trump's adult sons beginning to use the service this week, and Trump's account gaining over 800,000 users. But Trump himself hasn't posted a message since before the original launch date.
The intrigue: As far as Axios can tell, no Trump loyalists seem to be involved in Truth Social, and instead are focusing on building their own tech platforms.