TECH - Trump Media Firm's Tech-Ad Partner Rumble Sues Google For $1B Over Alleged Ad Monopoly | Benzinga
Video sharing platform, Rumble (NASDAQ:RUM) has initiated legal proceedings against tech giant, Google (NASDAQ:GOOGL) (NASDAQ:GOOG), accusing it of monopolistic practices in its digital advertising products. Rumble is seeking damages in excess of $1 billion.
What Happened: Rumble, the technology and advertising partner for Trump Media & Technology Group (NASDAQ:DJT), alleges Google has monopolized the ad stack by acquiring companies across the chain, Reuters reported on Tuesday. The lawsuit asserts that Google represents both ad buyers and sellers while also controlling the exchange connecting these parties.
Rumble adds that Google has preserved its monopoly by striking a deal with Meta’s Facebook to prevent it from offering alternatives to Google’s ad tech ecosystem. Google has denied these allegations, terming them as “simply wrong” and asserting that Rumble uses “dozens” of competing ad services along with Google’s ad manager.
The lawsuit was lodged late Monday in the U.S. District Court for the Northern District of California.