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.

  • snownyte@kbin.social
    link
    fedilink
    arrow-up
    6
    arrow-down
    2
    ·
    6 months ago

    Where were all of those 71 million voters? Was 113k all that they could get of them?

    • tal@lemmy.today
      link
      fedilink
      English
      arrow-up
      4
      arrow-down
      1
      ·
      6 months ago

      You’re saying that people who vote for him should create accounts? I mean, I don’t think that that is all that surprising. I might vote for Biden over Trump because I prefer him as a president, but if Biden starts a social media company, I’m probably not gonna go move my social media activity there.