Rumble Formally Submits Offer To Purchase TikTok

by State Brief

Rumble has formally submitted an offer to purchase Chinese-based short-form video hosting service TikTok.

The offer, submitted in a letter to TikTok CEO Shou Zi Chew by Rumble Chairman and CEO Chris Pavlovski, follows concerns over parent company ByteDance and their potential threats to American security from China, which have prompted a bipartisan push for a ban of TikTok by Congress.

“In the event that ByteDance divests its ownership in TikTok, Rumble is ready to join a consortium with other parties seeking to acquire and operate TikTok inside the United States,” wrote Pavlovski. “Specifically, we are ready to serve as a cloud technology partner.”

Pavlovski referenced Rumble’s recent launch of Rumble Cloud services, noting the service would provide safety and security amidst content privacy concerns.

“All the data on the Rumble Cloud is stored safely and securely at sites inside of the United States on Rumble’s own neutral and independent infrastructure,” Pavlovski’s letter continued. “Rumble’s offer to serve as a partner to a consortium to acquire and operate TikTok is subject to the negotiation of a definitive agreement.”

On Monday, Rumble launched Rumble.Cloud to the public in their continued support of a “free and open internet.”

Rumble’s cloud service is designed to empower businesses to divest from “hyperscaler” Big Tech corporate cloud services. The service provides the infrastructure to Rumble’s website, along with other cloud computing services available by self-service including virtual machines and Kubernetes orchestration, block and object storage, load balancers, and virtual private cloud options.

“The cloud market is desperate for real competition that isn’t controlled by an oligopoly. Our cloud will bring top network speed and quality, but most importantly, we plan to disrupt the market with our pricing strategy,” said Pavlovski in a press release. “Just as our video platform has taken market share away from YouTube, we plan to do the exact same in the cloud market that Amazon, Google, and Microsoft have cornered.”

Independent presidential candidate Robert F. Kennedy Jr.’s campaign is currently a customer of Rumble Cloud, according to the press release.

“Partisanship and censorship are threats to uniting the country,” wrote Kennedy campaign manager Amaryllis Kennedy. “In almost every aspect of the campaign, we ask ourselves how do we make choices that are the most inclusive and neutral so that everyone feels welcome. This includes our choices of business services to run the campaign. The new Rumble Cloud provides a neutral and independent cloud infrastructure to run our essential campaign applications, free of Big Tech and government censorship.”

Rumble is a Canadian-based YouTube competitor that brands itself as a neutral video platform and seeks to protect a free and open internet.

The company acquired subscription based Patreon competitor, Locals, founded by Rubin, in October 2021. A few months after purchasing Locals, Rumble announced it would go public after entering a deal with global financial services firm CF Acquisition Corp. VI (CFVI). Rumble was initially valued at $2.1 billion, and current stock prices for CFVI are trading at just over $7.69 per share.

Source link

You may also like