Welcome to our dedicated page for Rumble news (Ticker: RUM), a resource for investors and traders seeking the latest updates and insights on Rumble stock.
Rumble Inc. (symbol: RUM) is a dynamic, high-growth video-sharing platform that allows users to watch, share, like, comment, and upload their own videos. The platform supports both video-on-demand and live streaming content, enabling creators to engage with their audience in real-time. Users can subscribe to their favorite channels to stay updated with the latest content from creators.
Rumble Inc. focuses on generating revenue primarily from the United States. The company is not just a video platform; it is also a cloud services provider that prides itself on creating an independent infrastructure. Rumble's mission is to restore the internet to its roots by promoting a free and open internet. This mission is reflected in its commitment to providing an unfiltered and unbiased platform for content creators and consumers alike.
Rumble has been making headlines recently with its aggressive stance against major tech companies. Notably, Rumble has filed a lawsuit against Google, alleging anti-competitive and exclusionary practices. The lawsuit claims that Google's monopolistic behavior in the digital advertising market has unfairly impacted Rumble's growth. This legal action highlights Rumble's determination to challenge industry giants and advocate for a more equitable digital ecosystem.
In terms of financial performance, Rumble recently announced its fourth quarter and full-year 2023 results, demonstrating strong growth and financial health. The company continues to attract investor interest, and its upcoming earnings conference call is highly anticipated by stakeholders.
Rumble's partnerships and collaborations further bolster its position in the market. For instance, the platform hosts the popular podcast
Rumble Inc. (Nasdaq: RUM) reported its Q1 2024 financial results on May 14, 2024. Revenue increased marginally to $17.7 million from $17.6 million in Q1 2023, with expenses rising sharply by 22%. Rumble launched key products, including Rumble Cloud and Rumble Studio Livestreaming. The company announced a significant partnership with Barstool Sports and filed a second antitrust lawsuit against Google. Despite a decline in monthly active users (MAUs) and minutes watched per month (MWPM), the company aims for sequential revenue growth in Q2 2024 and is set to introduce Average Revenue Per User (ARPU) as a key metric. Cash reserves stand at $183.8 million.
Rumble (NASDAQ:RUM) has filed a second lawsuit against Google, alleging violations of the Sherman Antitrust Act due to monopolistic and anticompetitive practices in its digital advertising products, known as the 'ad tech stack.'
The suit was filed in the U.S. District Court for the Northern District of California, seeking over $1 billion in damages and injunctive relief.
Rumble claims Google has monopolized the ad tech stack by buying companies, representing both ad buyers and sellers, and running the exchange, creating conflicts of interest.
Additionally, Rumble alleges Google's practices include tying products to lock in customers and an agreement with Facebook to prevent competition.
This is Rumble's second lawsuit against Google; the first, filed in 2021, is still in active discovery.
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