What amazing timing! JD Vance broken and little known video website just got a $775 million investment

[Takket]

WOW! What an amazing coincidence that a business going nowhere is suddenly worth of nearly a 3/4 of a billion dollar investment! Nothing shady about that!!!! Notice: article has a paywall. Original article from November talks about how the company is going belly up, with an update on Dec 20th that now they have the investment to keep them going.

https://www.forbes.com/sites/kylemullins/2024/12/20/the-jd-vance-backed-youtube-clone-rumble-is-finally-relevant-but-its-running-out-of-cash/

Update (12/20/2024): Following this story’s publication, Rumble got the cash infusion it needed when it announced a $775 million investment from Tether, a cryptocurrency company that operates a widely-used stablecoin pegged to the US dollar. As part of the deal, Rumble will receive $250 million to pad its rapidly dwindling balance sheet—a lifeline that could enable it to continue handing out lucrative contracts to creators from across the internet. CEO Chris Pavlovski will retain majority control of the company. If Rumble can leverage this investment into major user and revenue growth, then Tether will have saved the company. If it can’t, Rumble will be in the same do-or-die position it was in before the deal was announced.

In Nov. 12, Rumble CEO Chris Pavlovski declared victory. On election night a week before, his video platform—which pitches itself as a pro-free speech alternative to YouTube—had been the second most-popular destination for livestream viewers, beating Amazon-owned Twitch and taking a chunk of viewers from the dominant YouTube. At the same time, cable networks saw viewership drop compared to 2020. “This was the nail in the coffin for traditional media,” he crowed on Rumble’s third quarter earnings call, “and the dawn of a new era where the independent creator is the new source of truth—and Rumble is at the forefront.”

The quarterly report was rosy, too. Revenues hit $25 million, up some $7 million from the third quarter of 2023, while monthly active users jumped to 67 million. “I finally feel like the train is on the tracks and it’s ready to move,” Pavlovski told Matt Kohrs, a conservative commentator, on a separate call that day.

Rumble now has a dedicated user base, a cloud services platform and its own advertising marketplace. Big names like Dan Bongino and Donald Trump Jr. appear alongside Barstool Sports videos and gaming streamers. And now, for the first time since its right-wing pivot, Rumble will have friends in senior government positions. Vice President-elect JD Vance’s former venture capital firm, Narya, was Rumble’s first big funder in 2021 and still has a small stake; Trump’s pick to lead the Commerce Department, billionaire Howard Lutnick, managed Rumble’s SPAC deal in 2022; and one of Rumble’s board members, David Sacks, just received a White House appointment. The stock jumped 21% when Vance was picked as VP in July 2024 and jumped again in December on Sacks’ announcement.

[magicarpet]

1. Corrupting the political and economic landscapes

.... one transaction at a time.

[lame54]

2. Don't worry. Fetterman says it's all good

[Mike 03]

4. We are going to need stomachs made of tungsten

to observe the corruption that is going to be ubiquitous in front of our own eyes, usually without a single comment from the legacy media. The worst people in the country are going to get filthy rich for doing absolutely nothing positive for humanity.