By the numbers: Truth Social’s parent company, Trump Media & Technology Group, generated a total of $3.38 million in revenue for the first nine months of 2023.
It reports a $49 million net loss during the same period, including around $26 million in Q3.
The company’s cash-on-hand dwindled to just $1.8 million at the end of September, compared to $2.4 million at the end of June, while its total liabilities climbed nearly 72% to $60.5 million.
I’m surprised they can’t generate more revenue.
I’m also always surprised at how much it costs to run these compnaies.
What do they spend the money on? Is there a constant need for an army of coders? Do you have to physically hose servers to keep your site easy to access?
It’s a smart play to go public. Incentivize people to get the vote out for trump because if he gets re-elected, revenue wil surge as people seek access by patronizing his company a la his hotels.
A potential 5 billion valuation at that revenue is peak grift! This is exactly what Trump does best and his followers will gladly part with their limited money to buy the stock while simultaneously going on TS to complain about the price of milk and eggs
I suspect in a few years like most other Trump ventures investors will have lost money but this time it will be the deep states fault and a conspiracy to short the company.
Simply because I’ll forget about this, please let us know how it’s doing in a year. I’m not saying it will be a good investment or not, but I’m actually curious.