One of the largest esports organizations in the world, Faze Clan, has officially entered the public market through a SPAC merger with B. Merger Corporation Riley Principal 150 Faze is now valued at $725 million, down from the $1 billion it was given when the merger was first announced in October. At the moment, Faze is traded on the Nasdaq exchange under the ticker FAZE.
Faze is a major esports and gaming lifestyle brand that enjoys enormous youth appeal. According to Faze, about 80% of its audience is between the ages of 13 and 34.
It is not only affiliated with some well-known people, such as streamers and content creators like NickMercs, rapper Lil Yachty, and even Snoop Dogg, who sits on the company’s board of directors, but it also has 11 competitive esports teams in games like Counter-Strike: Global Offensive, Fortnite, PUBG, and Valorant. Additionally, Faze has expanded beyond gaming by opening a studio for original film and television projects as well as a large merchandise store where you can buy a variety of items adorned with the company’s logo. However, the company has faced some difficulties since its founding in 2010.
Twitch streamer Tfue, who once had a contract with Faze and claimed that the company was taking advantage of him financially, and Faze have resolved their legal dispute. Meyers Leonard, a former Miami Heat player, was also fired by the company after he made an anti-Semitic remark during a Twitch stream.
In the future, Faze plans to expand even more outside of the gaming industry. According to CEO Lee Trink, Faze is looking into concepts like gambling, ghost kitchens, fan clubs, and potential business alliances with Web3 firms.
