What happened President Trump is planning to return to social media in a big way, but not through the platforms offered by Big Tech. Because they summarily banned him from their sites following the 2020 elections, he is making an end run around them by launching his own platform and will be merging the Trump Media & Technology Group with special purpose acquisition company (SPAC) Digital World Acquisition (NASDAQ: DWAC) to create a publicly traded business. What caught many by surprise was Trump Media's announcement to kick off December that it intended to raise $1 billion by selling shares to hedge funds and other private investors in a PIPE, or private investment in public equity, deal. It gave the company a valuation twice what was suggested by the merger announcement with Digital World, which ended December with a gain of 24.3%, according to data provided by S&P Global Market Intelligence, and has continued running higher in January after announcing the Truth Social network app would launch on Feb. 21. Image source: Official White House photo by Joyce N. Bhogosian. So what Alternatives to Big Tech social media platforms are garnering a lot of attention these days. CF Acquisition VI (NASDAQ: CFVI) surged 10% in December after it announced the SPAC would merge with YouTube alternative Rumble. Conservatives have alleged the likes of Facebook, Twitter, and Alphabet's Google have conspired against them to either limit their reach or ban them from their platforms. Numerous alternatives with a commitment to users being allowed to post and have access to unfiltered and uncensored opinions were launched. In addition to Rumble, which recently signed a partnership agreement with Trump Media, other social networking sites such as video sharing platforms BitChute and Odyssey have taken off, as have Gab and Parler (though the latter had to mount a comeback after Amazon deplatformed it by cutting off its web services). Minds is an alt-tech blockchain-based social network. Now what Many still doubt Trump Media & Technology will amount to much, and the Securities and Exchange Commission (SEC) is reportedly investigating the new social media company and the SPAC over alleged talks they had prior to Digital World Acquisition raising money that violated SEC rules. Truth Social will be a full-featured social networking platform with a subscription-based video streaming service, offering access to news, podcasts, and documentaries, among other content. Trump may once again confound the experts because he has a large and loyal following, many of whom would willingly follow him to a new platform. Still, as with much of what surrounds the former president, though, there's a lot of kinetic confusion around his social media ambitions, and an SEC probe could throw a wrench into the machinery. 10 stocks we like better than Digital World Acquisition Corp.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Digital World Acquisition Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 16, 2021 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Meta Platforms, Inc., and Twitter. The Motley Fool recommends the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool has a disclosure policy.Source