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Peter Thiel-Backed Video Platform Rumble Starts Trading After SPAC Deal

Rumble is one of a growing number of conservative media sites. 

The Rumble video platform 

The Rumble video platform 

Photographer: Tiffany Hagler-Geard/Bloomberg
Updated on

Rumble Inc., the conservative video network backed by billionaire Peter Thiel, became a publicly traded company Monday through a deal with a blank-check firm that will value the business at more than $2 billion. The shares rose as much as 40% during the company’s first day of trading.

The merger with CF Acquisition Corp. VI, a special purpose acquisition company backed by Wall Street firm Cantor Fitzgerald, will deliver $400 million in proceeds to Rumble. The company, which trades under the ticker symbol RUM, is one of a growing number of alternative media sites attracting new users as US political divisions intensify. Other conservative apps, including Parler, Gettr and Donald Trump’s Truth Social, have all been downloaded millions of times globally.