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IPFS News Link • Business/ Commerce

Trump Social Media Venture Raises $1BN At Valuation Near $4BN

• by Tyler Durden the new "donating to the Clinton foundation".  

The reason for the surprise is that while the original SPAC deal from September valued Trump Media at $875 million (including debt) just two months later the company is now seeking to raise up to an additional $1 billion at a valuation of close to $4 billion, to reflect DWAC's rally after the stock soared in its first few days of trading as some speculated it could emerge as a twitter competitor.

And yet, the deal did get done and on Saturday, Trump's social media venture said it inked agreements to raise about $1 billion from a group of unidentified investors as it prepares to float in the U.S. stock market. Digital World Acquisition Corp, the blank-check acquisition firm that will take Trump Media & Technology Group Corp public by listing it in New York, said it will provide up to $293 million to the partnership with Trump's media venture, taking the total proceeds to about $1.25 billion.