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CF Acquisition Corp. VI (Nasdaq: CFVI) and Rumble Inc. announced the filing of a registration statement with the SEC regarding their proposed business combination. The transaction, approved by both boards, aims to provide approximately $400 million in proceeds, primarily for platform expansion and content creator attraction. The deal includes $100 million from PIPE financing and $300 million from CFVI's trust account. Expected to close in Q2 2022, subject to shareholder and SEC approvals, the merger aligns with Rumble's growth strategy in video distribution.
Rumble reported record engagement in January 2022, with approximately 10.8 billion minutes watched and an average of 4,383 hours of video uploaded daily. The platform experienced a 19% increase in monthly active users, reaching 39 million. Rumble's CEO, Chris Pavlovski, highlighted a shift in user preference towards platforms that support a free and open internet amid declining user numbers on Facebook. Additionally, Rumble confirmed its business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
Rumble announces a partnership with renowned legal scholar Alan Dershowitz, launching an exclusive live show to engage directly with audiences. Beginning on January 31, 2022, the show will air every Monday to Wednesday at 5:30 pm ET, covering current affairs and legal perspectives. Viewers can participate in live chats for discussions. Additionally, a private community on Locals will provide exclusive content. This initiative follows Rumble's earlier announcement of a business combination with CF Acquisition Corp. VI (NASDAQ: CFVI).
Rumble announces the beta launch of the LocalsTV App, enhancing user access to content post its merger with Locals in October 2021. The app, available on Amazon Fire TV and Google Play Store, features trending content, creator pages, and a livestream option for real-time engagement. CEO Chris Pavlovski highlighted user demand for this feature, while President Assaf Lev emphasized the importance of distribution for creators. This innovation supports Rumble's mission to provide a free and open Internet, alongside its definitive business combination agreement with CF Acquisition Corp. VI (CFVI).
Rumble announces that U.S. House Minority Leader Kevin McCarthy has chosen it as his preferred platform for exclusive content and important announcements. Since joining, McCarthy has attracted nearly 10,000 followers, indicating Rumble's growing importance for political leaders. McCarthy emphasizes the platform's role in fostering free speech, stating, 'freedom-minded Americans... can share unique ideas without fear of being censored.' Rumble, known for its neutral video platform, aims to combat cancel culture and restore a free Internet, following its business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
Rumble has invested in Parallel Economy, a payment processing company aimed at fostering a cancel culture-free digital economy. Founded by Dan Bongino and Jeffrey Wernick, Parallel Economy aims to create a financial ecosystem for creators without arbitrary cancellations. Rumble's CEO, Chris Pavlovski, emphasizes the investment supports their mission to provide financial security to creators. Alongside this, Rumble will use Parallel Economy as its preferred payment processor, encouraging users on Rumble and Locals to utilize it. This move aligns with Rumble's goal to restore an open Internet.
Rumble has announced that The Dan Bongino Show's Rumble channel has surpassed 2 million subscribers, exceeding its YouTube channel's total. This surge indicates a growing public interest in Bongino's content, noted by Rumble CEO Chris Pavlovski, who emphasized the platform's appeal due to its stance against selective censorship. Moreover, Rumble recorded the highest bandwidth usage in its history, underscoring a significant uptick in video consumption. The company has also entered into a definitive business combination agreement with CF Acquisition Corp. VI (CFVI).
Rumble has signed Matt Kohrs, a prominent finance and crypto commentator, as a key creator for its platform, committing to exclusive content and audience engagement. Kohrs will cease using Patreon, opting for Locals for subscriber content. His video-on-demand content will debut on Rumble an hour before other platforms, and he will exclusively engage with Rumble Rants during livestreams. Kohrs's shows will air weekdays, focusing on finance, stocks, and cryptocurrencies, which aligns with Rumble's mission of fostering free and open internet platforms. Rumble is in a business combination with CF Acquisition Corp. VI.
Rumble has shifted a significant portion of its advertising inventory to an alpha version of its own advertising marketplace, moving away from public ad exchanges. The rollout will occur in stages throughout 2022, aiming to serve all platform ads through its system. This marketplace will offer real-time bidding and targeting to create a transparent advertising ecosystem, free from cancel culture influence. CEO Chris Pavlovski highlighted existing advertisers using the system, with plans to expand accessibility to more advertisers by Q2 2022. Rumble also announced a business combination with CF Acquisition Corp. VI (NASDAQ: CFVI).
On December 14, 2021, Rumble announced the termination of its partnership with Tremor International due to attempts to censor Dan Bongino, a prominent media figure. Rumble's CEO, Chris Pavlovski, emphasized the company's commitment to free speech and open debate, rejecting demands from Tremor to remove advertisements from Bongino's content without providing evidence of policy violations. Rumble is focused on creating a neutral video distribution platform and recently entered into a business combination agreement with CF Acquisition Corp. VI (NASDAQ: CFVI).
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