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"I formed Truth Social and the Trump Media and Technology Group (TMTG) to counter the tyranny of the tech giants," Trump said in a statement, adding that his platform would be launched in the first quarter of 2022.
The big companies in Silicon Valley have used their one-sided power to silence dissent in America, Trump added.
He was ousted from Facebook, Twitter and YouTube following the January 6 attack on the US Congress.
Before he was ousted, Trump had almost 89 million followers on Twitter, when he announced a number of presidential decisions, he had 35 million followers on Facebook and 24 million on Instagram.
The Truth Social platform will be available in beta on call from November 2021, the statement said, while Trump's new media group TMTG will also have an on-demand video service with entertainment programs and podcasts.
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