In brief
Modi's debut post, alongside Trump's promotional efforts, brings international attention to the burgeoning social media platform.
In a surprising move, Indian Prime Minister Narendra Modi has debuted on Truth Social, the social media platform founded by former US President Donald Trump. In his inaugural post, shared on a Monday, Modi included a nostalgic photograph of himself and Trump taken during a 2019 visit to the United States, expressing his enthusiasm for this new digital venue.Launched in February 2022, Truth Social was developed as a response to Trump's 2020 electoral defeat and his subsequent bans from mainstream social media platforms like Twitter and Facebook, which accused him of instigating violence. As of the latest update, Modi has amassed approximately 21,500 followers on Truth Social and follows only Trump and US Vice President JD Vance.Trump himself promoted an interview featuring Modi on the platform, where the Indian leader offered insights into his life experiences, the 2002 Gujarat riots, and the complexities of India's relationship with China. The layout and functionalities of Truth Social bear resemblance to X, formerly known as Twitter, allowing users to share 'truths,' 'retruths,' and send private messages. On this platform, advertisements are referred to as 'sponsored truths.'Trump Media & Technology Group (TMTG), which owns Truth Social, went public in March 2024, with Trump holding roughly 57% of the company's shares. Despite having some significant investment from entities like Kuwait-based ARC Global Investments and former contestants of Trump's reality show, the company faces legal disputes regarding these holdings.While Trump commands a follower count of 9.28 million on Truth Social, this is significantly lower than his 87 million followers on X. Current data from Bloomberg indicates that Truth Social's user traffic remains minimal compared to its rivals, lagging behind X by a staggering margin of 400 times. In the fiscal year of 2024, TMTG recorded losses amounting to $400 million, while revenue stood at a mere $3.6 million, reflecting a market valuation of about $4.45 billion.
