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.
I commented on a Reddit post that rddt is worth less than djt currently. I hypothesized that awful moderation was worse than no moderation.
Mod banned me lol.
Well, you were technically wrong, there are more shares of RDDT than DJT, so even though RDDT is cheaper per-share than DJT after yesterday’s close, RDDT’s total market cap is about $1B higher.
Still no reason for a ban. Now that RDDT is publically traded and has a much higher profile, I wonder if some enterprising lawyer can figure out a class action lawsuit against Reddit for all the people who were banned from the site for bullshit reasons. You’d probably have to prove some actual harm, though. Most Reddit bans only hurt your pride.