abhishek agrawal

FS Reads: How FaZe Clan is now worth $1 Billion.

FS Reads: How FaZe Clan is now worth $1 Billion.

Who would’ve thought, a group of friends with a gaming YouTube Channel in 2010 would turn into the biggest digital-native lifestyle and media platform rooted in gaming and youth culture with a fan base of over 350 million millennials in 2021. However, do you know what's more surprising? FaZe Clan merger with B. Riley Principal 150 Merger Corp (NASDAQ: BRPM). 
In simple words, FaZe Clan is all set to become a public company and will be listed on NASDAQ (American Stock Exchange). It will be on Wallstreet and you can buy FaZe Clan stocks. To get a detailed overview, read below: 

FaZe Clan is at the forefront of the global creator economy. Over the years, we have seen Esports giant ‘FaZe Clan’ collaborating with some of the biggest companies like Xbox, AntiSocialSocialClub, NFL, Beats by Dre, and many more. They have come a long way with approximately 80% of its audience between the ages of 13-24. They have unlocked key relationships with a coveted demographic that has long proven difficult to reach for any media platform. 

“This transaction will provide us capital and access to the public markets, which will help us accelerate the expansion of our multi-platform and monetization strategy,” says Lee Trink (CEO of FaZe Clan)

 

 As of their plans to go public, FaZe Clan will have an implied equity valuation of $1 billion USD (INR 74,96,00,00,000), inclusive of $275 million USD (INR 20,60,24,50,000) in cash. According to their official website, USD 291 million (INR 21,81,74,34,000) will be used to fund FaZe Clan’s global multi-platform growth strategy spanning content, gaming, entertainment, and consumer products including potential acquisitions.

Once the deal is settled, BRPM will change its name to “FaZe Holdings Inc” and is expected to begin trading on NASDAQ under the new ticker symbol “FAZE”. It is now set to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange. 

What are your thoughts? Let us know!

Back to FreeMAG