Explainer-What is Trump's new venture and what are its odds of success?

FILE PHOTO: Former U.S. President Donald Trump looks on during his first post-presidency campaign rally at the Lorain County Fairgrounds in Wellington, Ohio, U.S., June 26, 2021. REUTERS/Shannon Stapleton/File Photo

(Reuters) - Former U.S. President Donald Trump has announced his return to the digital world with the planned launch of his own social media app as he promises to "stand up to Big Tech" after being banished from major platforms.

The app, TRUTH Social, will be created through a new company formed by a merger of the Trump Media and Technology Group and a special purpose acquisition company (SPAC), according to a press release they issued on Wednesday.