Rumble Secures $775M Investment from Tether: YouTube Competitor Grows Stronger
Rumble, the rising star in the competitive world of video-sharing platforms, has just struck a monumental deal with stablecoin giant Tether. In a strategic move, Tether has invested a whopping $775 million in Rumble, propelling the platform to new heights and sending shockwaves through the industry.
Rumble’s Game-Changing Investment
The $775 million investment from Tether marks a significant milestone for Rumble, with $250 million earmarked to bolster its operations and the remaining amount allocated for a tender offer to purchase up to 70 million shares of its common stock at $7.50 per share. This price reflects the value Tether sees in Rumble and the potential for growth in the video-sharing market.
In a statement following the deal, Rumble CEO Chris Pavlovski expressed his excitement about the partnership, highlighting Tether as the ideal collaborator to fuel Rumble’s expansion. “I truly believe Tether is the perfect partner that can put a rocket pack on the back of Rumble as we prepare for our next phase of growth,” Pavlovski remarked.
A New Era for Media Platforms
Tether CEO Paolo Ardoino also weighed in on the investment, emphasizing the need for credible and uncensored alternatives to traditional media outlets. “Legacy media has increasingly eroded trust, creating an opportunity for platforms like Rumble to offer a credible, uncensored alternative,” Ardoino stated. Beyond the initial investment, Tether envisions a deepening relationship with Rumble, spanning advertising, cloud services, and crypto payment solutions.
As news of the partnership spread, Rumble’s stock (RUM) surged by a remarkable 41% in after-hours trading, reaching $10.13 per share. The market’s response underscores the confidence investors have in Rumble’s future prospects and the strategic value of Tether’s investment.
Looking Ahead
While the specifics of how the investment will be utilized remain undisclosed, speculations abound regarding the potential inclusion of bitcoin on Rumble’s balance sheet. Pavlovski had hinted at the possibility of integrating bitcoin into the platform, hinting at exciting developments on the horizon.
In the dynamic landscape of digital media, Rumble’s collaboration with Tether signals a new chapter for video-sharing platforms. As the industry continues to evolve, the partnership between Rumble and Tether sets the stage for innovative solutions and transformative growth in the realm of online content creation. Stay tuned as Rumble charts its course towards a brighter, more robust future in the digital sphere.