Rumble Inc (RUM)

[abracky]

Rumble SPAC CFVI gains on social media mentions, deal with YouTuber Matt Kohrs

Jan. 05, 2022 10:58 AM ETCF Acquisition Corp. VI (CFVI)AMC, GME, GOOGL, DWAC, D, GOOGBy: Joshua Fineman, SA News Editor33 Comments

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Sagar Gore/iStock via Getty Images

SPAC CF Acquisition VI (NASDAQ:CFVI), which agreed last month to take YouTube competitor Rumble public, rose 8.2% after YouTuber Matt Kohrs signed a deal to make Rumble and Locals his preferred platforms.

Kohrs, known for providing commentary on finance, crypto and stocks including meme stocks AMC Entertainment (NYSE:AMC) and Gamestop (NYSE:GME), will bring his video-on-demand content exclusively to Rumble at least 1 hour prior to any other platform, according to a statement.

Rumble and SPAC CFVI have been gaining a lot of interest in the past month after the alternative YouTube platform announced a deal with former President Donald Trump's new social media company. In addition on Monday, after Sen. Rand Paul (R-KY) said he's quitting Google-owned YouTube (NASDAQ:GOOGL) and switching to Rumble.

Last month, Trump's social media company confirmed a partnership with Rumble. Trump Media & Technology Group, which is going public through a deal with SPAC Digital World Acquisition (NASDAQ:DWAC), said it entered into a wide-ranging technology and cloud services agreement with Rumble. As part of the partnership, Rumble will deliver video and streaming for TRUTH Social.

The Rumble SPAC deal with CFVI is expected to close in the second quarter of 2022. Rumble, which some describe as a conservative alternative to Google's YouTube, said last month it had 36M average monthly active users in Q3 2021.