Rumble Inc. (NASDAQ: RUMBW)

Rumble Inc. operates a video sharing platform and related services that enable creators to upload, share and monetize content. The company was founded in 2013 with the goal of giving smaller creators a fair chance to reach an audience. Over time it has built a suite of tools that include a video site, a livestreaming application, an advertising network and a cryptocurrency wallet. In addition to its media offerings Rumble Inc. provides infrastructure services through its cloud division. Its core business spans the digital media and cloud computing sectors.

Rumble Inc. generates revenue primarily from advertising, subscriptions and user tips. Advertising sales come from display banners, video pre roll and mid roll spots and creator sponsorships offered through its advertising network. Subscription income is derived from premium access plans and community support fees on Locals.com. The company also receives revenue from pay per view events and cryptocurrency tips made via its wallet. Revenue is shared with creators under a revenue sharing model that incentivizes content production.

The company operates through the following segments: Rumble Services and Rumble Cloud.

• Rumble Services consists of the video platform Rumble.com, the livestreaming tool Rumble Studio, the advertising marketplace Rumble Advertising Center and the crypto wallet Rumble Wallet. The video platform offers free viewing, subscription based premium access and community support through Locals.com where fans can pay to follow favorite creators. The livestreaming tool enables creators to broadcast across multiple social channels while accessing monetization options such as host read ads and sponsorships. The advertising marketplace connects advertisers with publisher inventory and provides display, video and sponsorship campaigns that are sold through a self serve interface. The crypto wallet lets users send tips to creators using digital currencies without relying on third party payment processors and supports assets such as USAT, USDT, XAUT and Bitcoin.

• Rumble Cloud provides infrastructure as a service with compute, storage, security and networking capabilities. It runs on dedicated hardware using AMD EPYC processors and NVMe storage. The service offers a predictable resource tier pricing model that gives customers fixed monthly fees for unlimited usage within allocated resources. Customers can choose from different resource tiers that match their workload needs without facing surprise charges. Following the planned combination with Northern Data the business will add GPU as a service and expanded data center locations to support artificial intelligence workloads. The enhanced offering will allow users to run machine learning training and inference tasks on dedicated graphics processors.

Rumble Inc. competes in the online video space against larger platforms such as YouTube and Vimeo while positioning itself as a neutral host that does not algorithmically favor established creators. Its competitive advantage stems from a transparent content policy, a growing base of independent creators and a proprietary advertising network that shares revenue with contributors. The company also benefits from a direct relationship with its audience which reduces reliance on third party intermediaries. In the cloud market the company faces major providers including Amazon Web Services, Microsoft Azure and Google Cloud but differentiates itself with fixed pricing, data privacy commitments and a focus on customers seeking alternatives to hyperscale offerings. Rumble Cloud emphasizes security and control by letting clients run workloads on hardware that it owns and operates.

The company’s user base includes individual viewers, content creators and advertisers. Notable creators who have built audiences on the platform include Dan Bongino, Russell Brand, Kim Iversen, Dave Rubin, Kimberly Guilfoyle, Matt Kohrs, Barstool Sports and Dana White. Advertisers range from small businesses to larger brands seeking to reach the platform’s engaged viewers. On the cloud side the business serves small and medium sized enterprises, government agencies and larger enterprises that require compute and storage solutions. Specific cloud customers have not been disclosed in the filing but the service targets organizations that want predictable costs and greater data sovereignty.