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IPFS News Link • Stock Market

Trump Social Media Venture Soars: In Talks Over $1 Billion Raise At Much Higher Valuation

• by Tyler Durden

... by selling shares to hedge funds and family offices at several times the valuation it commanded in a deal with a blank-check acquisition firm in October.

While the original deal from September valued Trump Media at $875 million, including debt, just two months later the company is seeking to raise up to an additional $1 billion at a valuation of close to $3 billion, to reflect Digital World's share rally after Trump supporters and day traders snapped up the stock. Indicatively, DWAC's market cap closed at $1.8 billion today.

The proposed deal is the clearest indication yet that the dealmakers behind Trump Media & Technology Group - which has yet to roll out the social media app it says it is developing - are seeking to capitalize on the market euphoria around their venture, which has so far been fueled by its ambitious goals rather than a business that is up and running.

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