Thiel, Vance invest in conservative YouTube alternative

 

 

According to a report from the Wall Street Journal, prominent conservative businessmen including Peter Thiel and J.D. Vance have invested in a social media platform that they consider to be an alternative to the popular channel YouTube. The platform is called Rumble and if the name seems unfamiliar, it’s because it has niche popularity mainly among Republicans as it propagates conservative views.

 

The WSJ also reported that the investors also included Colin Greenspon of the Narya Group and Darren   Blanton, former Trump adviser with family office —Colt Ventures. The deal amount has not been revealed but is said to be substantial. One source that the company valuation is around $500 million.

 

Rumble was founded in 2013. According to the WSJ the platform came into the public eye of the conservatives after it was promoted by two prominent conservatives — commentator Dan Bongino and Rep. Devin Nunes (R-Calif.) in October 2020. The obscure platform is gaining popularity with right wing groups as mainstream platforms have media guidelines that are considered to be constrictive by these groups.

 

SimilarWeb said that the platform had about 800,000 views in August and the number of views rose to 25 million in October. After the January 6 riot, it gained many more views as mainstream platforms including Twitter, Facebook and more banned popular users including former president Donald Trump and other users who posted rhetoric and baseless allegations.

 

The chief executive of Rumble, Chris Pavloski said that the company is planning to expand the video offerings of the platform and add services. It is planning to reach non-English based markets. It will also invest in cloud infrastructure. It is planning to add cloud solutions to businesses and compete in that space in future.

 

The CEO of Rumble told The Hill that the deal was finalized last week. It was announced on Wednesday. The platform has a huge task in front of it as it aims to compete with the several billion-viewer base of YouTube or with Amazon Web Services and other cloud computing services.

Photo Credit-


Follow us on Google news for more updates and News










PLEASE READ THE IMPORTANT DISCLOSURES BELOW.

This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.

Full Disclaimer


>