Donald Trump’s social media network trading at valuations that make some of the most successful listed firms in history look pedestrianShares in Donald Trump's Truth Social initially shot up to give the company an early market capitalisation of $8bn even though Truth Social generated only $4.1m in revenue in 2023. Photograph: Will Oliver/EPA
Just how crazy is the Truth Social launch? Trump Media & Technology Group shares initially shot up to give the company an early market capitalisation of $8 billion and kept rising before falling substantially by Monday to give a $6 billion market cap, even though Truth Social only generated $4.1 million in revenue in 2023 to set against same-period company losses of $58.2 million.
App downloads have shrunk, too. While Truth Social had a download spike at launch, with more than two million Apple App Store downloads in the first months of 2022, those have withered to about 40,000 IOS and 57,000 Android downloads in February, according to Statista. Or to put it another way, each of Truth Social’s 494,000 US monthly users might be valued at $11,538, based on Monday’s low-end $5.7 billion market cap. That means each user would be expected to generate income to the site worth this amount. As a handy metric, that converts to 192 of Trump’s new $60 “God Bless the USA”Meta’s monthly active user converts to a measly-by-comparison $367, even though Meta generated $134 billion in revenue in 2023.
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Source: IrishTimesBiz - 🏆 6. / 77 Read more »