The company behind Truth Social is now a public entity | TechCrunch Minute

Last week was the busiest week for Technology IPOs we've seen in a long Time but there was one debut you might Have missed so let's talk about it now Reddit's IPO was a success the company Priced at the top end of its proposed Range and then stormed out of the gate Once it began to trade then there was Aera lab's own Tech IPO which was even More impressive pricing above its range And then also shooting higher once it Began to trade then there was the other Third public debut a blank check Combination between AAC and the Trump Media and Technology Group yes the Company behind truth social is finally Public so what is Trump media well it's A social media company sure but it's Also in its own words built to quote Create a media Powerhouse to rival the Liberal media Consortium and fight back Against the big tech companies of Silicon Valley anyways Trump media as a Company doesn't look like a super great Business at least according to SEC Filings for example a reported last year That in the first 9 months of 2023 The Company generated revenues of 3.38 Million and led to a net loss of around 49 million now sure tech companies that Go public often lose money but that's Because they're growing very quickly in This case the revenue and loss just seem To be a little bit off-kilter and given

What the company is worth today on the Public markets it also has a pretty Aggressive Revenue multiple though of Course we'll need to wait for full Q4 Numbers to come out to be entirely sure Now CNBC does report that 11% of the Shares in the newly public Trump media Are being sold short indicating that not Everyone expects the company to perform Well as a public entity that said it has Done better thus far than many other Spa Combination so I guess one point for That now weird spack combos aside last Week's more material Tech IPOs were Really big deals and they did so well They could help unlock even more IPOs From Tech startups incoming qu One way to think about this is that After last year's instacart arm and Clavio Deals The Narrative was they Didn't do well enough to actually Engender more offerings well we have a Pretty different situation this time Right put in another way if we're seeing The Trump media spack deal get done and Both Reddit and ester's IPOs go boom in The same week surely the IPO waters are Warm enough for the average unicorn Right right