TechFlow news — On December 21, Rumble, a video-sharing platform and cloud services provider, announced an official strategic investment agreement with stablecoin giant Tether for $775 million. Under the agreement, Tether will purchase 103 million shares of Rumble’s Class A common stock at $7.50 per share. Of this amount, $250 million will support growth initiatives, while the remaining funds will be used to repurchase up to 70 million shares of Class A common stock.
The transaction is expected to close in the first quarter of 2025. Upon completion, Rumble CEO Chris Pavlovski will retain control of the company, while Tether will become a minority shareholder. Tether CEO Paolo Ardoino stated that the two companies will collaborate in areas such as advertising, cloud services, and cryptocurrency payment solutions.
