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submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Former President Donald Trump hit the jackpot this spring when his social media company finally went public.

Even though Trump Media & Technology Group DJT generates very little revenue, investors are assigning an eye-popping valuation north of $9 billion to the company. Trump’s dominant stake in Trump Media is now valued at nearly $6 billion.

Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller.

Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company.

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[-] FlyingSquid@lemmy.world 24 points 6 months ago

Imagine if Facebook or Google tried to sell investors on that sort of nonsense...

[-] Atom@lemmy.world 12 points 6 months ago* (last edited 6 months ago)

Facebook would be worth what disguy_ovahea says below, I'm bad at math

[-] disguy_ovahea@lemmy.world 21 points 6 months ago

Facebook has 2.9B users. That would be $232T or $232,000,000,000,000.

[-] SatansMaggotyCumFart@lemmy.world 13 points 6 months ago

That’s not divisible by 80,000.

this post was submitted on 04 May 2024
316 points (97.6% liked)

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