Rumble, an online video platform, is set to go public next year in a special purpose acquisition companies (SPAC) deal, the company has announced.
The Canadian company is planning to merge with a blank-check firm called CF Acquisition Corp VI. The merged company will still be called Rumble. The initial enterprise value has been set at $2.1 billion.
Rumble was founded in 2013 by Chris Pavlovski, who is currently its CEO and will retain voting control after the merge. It is a platform that declares itself to be immune to cancel culture and does not stifle freedom of expression.
Rumble to Go Public Next Year
Rumble, a Canadian online video platform, has announced that it will go public next year in SPAC deal.
The company also announced that it is merging with a blank-check firm called CF Acquisition Corp VI. Shares will be initially traded under the CFVI symbol.
According to a report by Reuters, the merged company will retain Rumble’s name. The company is expected to list on Nasdaq. The report said that initial enterprise value has been set at $2.1 billion.
Per the Reuters report, “The deal is expected to provide about $400 million in proceeds to Rumble.”
Rumble’s founder and CEO, Chris Pavlovski, will retain voting control, according to a statement released announcing the plans to go public.
“Being a public company will allow the people that believe in our mission to invest and join us as we seek to restore a free and open internet,” Chris Pavlovski said in the statement.
Pavlovski has also thanked those who have supporting Rumble in his statement and says that the company looks forward to the next stage of the journey.
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What is Rumble?
Rumble is an online video platform founded in 2013 by Chris Pavlovski. According to the official website of Rumble, the platform is for “people with something to say and something to share, who believe in authentic expression, and want to control the value of their own creations.”
Its official website says that Rumble focuses on creating technologies that they said are immune to cancel culture. The company also says that it is on a mission geared towards protecting a free, open internet.
In his statement announcing Rumble’s plans to go public next year, Pavlovski reiterated that the platform does not stifle nor punish expressions of creativity as well as freedom of expression. His statement also says that Rumble believes that “everyone benefits when they have access to more ideas and diverse opinions.
According to a report by Forbes, Rumble has a strong following particularly among conservative Americans.
Rumble has often been compared to YouTube. It has also been a platform for many content creators to earn through the monetization of their content.
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Written by Isabella James
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