Mon Dec 23 14:30:00 UTC 2024: ## Rumble Soars After $775 Million Tether Investment
**NEW YORK** – Video-sharing platform Rumble (RUM) announced a significant strategic investment of $775 million from stablecoin issuer Tether, sending its stock price soaring 41% in after-hours trading. The deal includes a tender offer for up to 70 million shares at $7.50 per share – the same price Tether is paying for its stake.
Rumble plans to allocate $250 million to operational support, while the remaining funds will be used to purchase shares through the tender offer. Rumble CEO Chris Pavlovski hailed Tether as the “perfect partner” to fuel the company’s growth, citing a growing demand for alternative, uncensored platforms in the face of declining trust in legacy media.
Tether CEO Paolo Ardoino echoed this sentiment, highlighting the opportunity for Rumble to fill the void. He also indicated plans to explore further collaborations with Rumble in advertising, cloud services, and crypto payment solutions. The investment values Rumble shares at $7.50. While the use of any proceeds to purchase Bitcoin remains unconfirmed, Rumble CEO Chris Pavlovski previously expressed interest in such an acquisition. Shares closed at $10.13 in after-hours trading.
First Piper 