Key Points
In April 2023, investment research firm Culper Research released a report expressing skepticism about the legitimacy of Rumbles claimed monthly active user (MAU) counts, a key metric for investors to evaluate the performance of a social media company..
Combined, the web and app data suggest to us that Rumble has only 38 to 48 million unique users, and the Company has overstated its user base by 66% to 108%, Culper Research claimed in its report...
In a quarterly earnings call following the reports publication, Rumble reported that its monthly active users declined by 40 percent during the first three months of 2023, from 80 million to 48 million..
In a financial filing, Rumble attributed the decrease in users to its popular creators being less active on the platform in the first part of 2023, and news events slowing down following the 2022 midterm elections...
That was a bit of validation, in my view, he says.. Updated 5:45 pm ET, January 8, 2024: Immediately following publication, Chris Pavlovski, Rumble's founder and CEO, said in a post on X that the SEC investigation was part of the playbook to try and destroy the company...
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19, Feb, 24The SEC confirmed to WIRED that the financial regulator has launched an investigation involving Rumble, a “free speech” video platform. The nature of the probe remains unknown.