On December 20, 2024, Tether revealed a strategic partnership with Rumble, a leading video sharing and cloud services platform listed on NASDAQ under the symbol RUM. The collaboration involves a substantial investment of $775 million to support Rumble’s growth and strengthen their shared commitment to decentralization and free speech.
Investment Details
The partnership includes an initial $250 million cash infusion from Tether, intended to support Rumble’s expansion efforts. Additionally, Tether will participate in a tender offer for up to 70 million shares of Rumble at a price of $7.50 per share. This overall investment program amounts to approximately $775 million, resulting in the acquisition of 103,333,333 shares of Rumble common stock. Despite this investment, Rumble Chairman and CEO Chris Pavlovski will retain his majority stake in the company following the transaction.
A shared vision for decentralization and innovation
Tether CEO Paolo Ardoino highlighted the alignment of values between the two companies, citing the common principles of decentralization, independence and transparency. He said: “Tether’s partnership with Rumble highlights our commitment to technologies that promote freedom and decentralization. As trust in traditional media diminishes, platforms like Rumble play a crucial role in providing a credible, uncensored alternative. This investment reinforces our vision of building an inclusive and decentralized infrastructure. Beyond the financial commitment, Tether plans to explore synergies with Rumble in the areas of advertising, cloud services and cryptocurrency payment solutions.
Echoing this sentiment, Chris Pavlovski expressed his excitement about the partnership. He highlighted the synergy between the cryptocurrency and free speech communities, which are united by their commitment to freedom and transparency. Pavlovsky said: “This collaboration not only strengthens our financial position, but also allows us to move closer to achieving the EBITDA breakeven point in 2025. The $250 million liquidity injection confirms Tether’s support to our growth initiatives, and the tender offer provides liquidity to our shareholders. I am confident that Tether’s involvement will propel Rumble into its next phase of development.
Tether announces $775 million strategic investment in Rumble ( @rumblevideo ) to boost decentralized and community media platforms
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– Tether (@Tether_to) December 20, 2024
A partnership oriented towards growth
This strategic collaboration marks an important milestone for Tether and Rumble. As Tether aims to expand its influence beyond the cryptocurrency realm into decentralized media, Rumble is gaining the financial backing needed to advance its mission of fostering open communication and innovation. Together, the two companies are poised to challenge centralized systems and redefine the future of media and technology.
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