It is scheduled for a full rollout at the end of the first quarter of 2022. And will feature the Trump Media Plan, a video-on-demand subscription service called TMTG+. They anticipate full streaming service capabilities. And the media company also envisions competing against the Amazon and Google Cloud Services
Unnamed investors give strong financial backing
The $1 billion is set to be raised in private investment in public equity (PIPE) transactions. In a joint statement, Trump Media and DWAC claim the money comes from “a diverse group of institutional investors.”
Many Wall Street firms, such as mutual funds, and private equity firms were not interested in the investment PIPE. There are still those reluctant to get on board with Trump due to the January 6th fiasco.
Political obstacles abound with Democrat Senator Elizabeth Warren is demanding that SEC Chairman Gary Gensler investigate the merger.
According to Reuters primary participants were “hedge funds, family offices, and high net-worth individuals. Family offices manage the wealth of the very rich and their kin.”
