Thiel-Backed Rumble Surges 40% In Stock Debut After SPAC Deal (2)

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Rumble, the conservative video network backed by billionaire Peter Thiel, is set to become a publicly traded company Monday through a deal with a blank-check firm that will value the business at more than $2 billion. The merger with CF Acquisition Corp. VI, a special purpose acquisition company backed by Wall Street firm Cantor Fitzgerald, is expected to deliver $400 million in proceeds to Rumble.

Rumble, which will trade 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 ...

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