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Rumble Secures $775 Million Strategic Investment from Tether
Summary: Video-sharing platform and cloud services provider Rumble (RUM) has announced a definitive agreement with Tether, issuer of the USDT stablecoin, for a $775 million strategic investment. The investment and tender offer are expected to close in the first quarter of 2025. Rumble, which aims to build an independent infrastructure for a free and open internet, ...
Video-sharing platform and cloud services provider Rumble (RUM) has announced a definitive agreement with Tether, issuer of the USDT stablecoin, for a $775 million strategic investment. The investment and tender offer are expected to close in the first quarter of 2025.
Rumble, which aims to build an independent infrastructure for a free and open internet, will allocate $250 million of the proceeds to growth initiatives, including business expansion and strategic investments. The remaining funds will be used for a self-tender offer, allowing the company to repurchase up to 70 million shares of its Class A common stock at $7.50 per share, matching Tether’s investment price.
Following the transaction, Rumble’s Chairman and CEO, Chris Pavlovski, will maintain his controlling stake in the company.
