According to Deep Tide TechFlow news, on December 21, Rumble, a video sharing platform and cloud service provider, announced a strategic investment agreement with stablecoin giant Tether for $775 million. According to the agreement, Tether will purchase 103 million shares of Rumble Class A common stock at a price of $7.50 per share. Of this, $250 million will be used to support growth plans, and the remaining funds will be used to repurchase up to 70 million shares of Class A common stock.
The transaction is expected to be completed in the first quarter of 2025. After the transaction is completed, Rumble CEO Chris Pavlovski will maintain control of the company, while Tether will become a minority shareholder. Tether CEO Paolo Ardoino stated that the two parties will collaborate in areas such as advertising, cloud services, and cryptocurrency payment solutions.