Trump's Truth Social faces serious financial and legal problems – Axios

Truth Social, the app launched by Donald Trump as a free speech platform for conservatives, is facing serious financial and legal stress as it tries to survive.Why it matters: The app is the former president’s biggest business venture since leaving office — and his best effort to create an alternative populist megaphone to amplify his political brand after being banned from Twitter. But for now at least, it’s following a chaotic trajectory like so many of Trump’s other businesses. Driving the news: Truth Social owes one of its vendors, an internet infrastructure company for conservatives called RightForge, around $1.6 million in backdated payments, sources familiar with the disagreement told Axios. The situation, first reported by Fox Business, puts Truth Social at risk of losing the cloud hosting support that it needs to operate.Truth Social soft launched in February and rolled out widely to all U.S. iOS users in May. Cloud support, sources told Axios, may have contributed to Truth Social’s full rollout delay.Zoom in: If Truth Social fails to come up with the cash to pay back RightForge, the dispute could move to arbitration, one source noted. “RightForge is committed to servicing the client,” CEO Martin Avila told Axios. “We…
Read More