FaZe Clan is looking to go public as a NASDAQ-listed company, and why shouldn’t they? With a high frequency of brand/sponsorship deals with the likes of DraftKings, Totino’s Pizza Rolls, HyperX, Disney, the NFL, Doordash, and more, FaZe is in an enviable position of money-making machine.
With more than 90 members of FaZe Clan divided between content creators and professional gamers, the organization was dubbed one of 2021’s top marketers by AdAge.
“Historically, music was the driver of youth culture,” said Lee Trink, CEO of FaZe Clan. “But now, gaming is youth culture.”
FaZe is poised to make a big splash with their announcement of a planned SPAC merger with a valuation of $1 billion, although an amended SEC filing from FaZe Clan put it below the $1 billion mark.
And with the threat of a recession looming, those numbers become even murkier. Going public during a potential downturn makes for tough predictions, but with all of FaZe’s hype, perhaps they can find a way to make this all work out, or risk becoming a cautionary tale.
(All information was provided by WIRED)