Rumble Inc. and CF Acquisition Corp. VI (NASDAQ: CFVI) announced today that CFVI had filed Form S-4 for the proposed business combination. Today, the form filed with the SEC includes Rumble’s full-year financial performance for 2021.
Rumble’s user base reached a new high in the first quarter of 2022, with an average of 41 million monthly active users (“MAUs”), a 22% increase over the fourth quarter of 2021.
Rumble’s current strategy is focused on maintaining its significant growth in users and user engagement and developing tools to enable future monetization of this consumption.
The platform received an average of 6,158 hours of uploaded video per day in the first quarter of 2022, representing increases of 23% and 88%, respectively, over the fourth quarter of 2021.
Rumble’s rapid growth in these metrics reflects the platform’s large and growing pool of content creators.
On December 1, 2021, CFVI and Rumble announced the signing of a definitive business combination agreement. At close, the transaction will generate approximately $400 million in proceeds, including $100 million from a PIPE financing and $300 million in cash held in CFVI’s trust account. The funds will be used to recruit new content creators for the Rumble and Locals platforms.
At the time of writing, CFVI was up 1.9% to $11.00.
Rumble is a rapidly expanding neutral video platform that builds rails and independent infrastructure to be immune to cancel culture. The mission of Rumble is to return the Internet to its roots by making it accessible and open once more.