The record-breaking year for deals in the video game industry just got even bigger. Faze Clan, an online media company focused primarily on eSports competitors and content creators, began trading on the NASDAQ last week after a $725 million SPAC merger with B. Riley Principal 150 Merger Corp.
The stock is currently trading at a $1.176 billion market-cap under the symbol: FAZE.
FaZe Clan began 12 years ago as a small group of friends playing Call of Duty. Since then, the group became a content studio with a talent management agency, eCommerce business, and a growing fan base across multiple digital platforms (estimated at roughly 500 million people).
The company has partnerships with multinational brands like Nissan, McDonalds and MoonPay.
Lee Trink, CEO of FaZe Clan said, “FaZe Clan will fund investments and we will create the product and we’ll own a bigger piece of the upside. That’s the future of the creator economy.”
Already a record-breaking year for deals in the video game industry, 2022 may well end up surpassing $150 billion in mergers and acquisitions, public listings, direct and private investment.
Even as much of the market seems to be slowing, the video game industry shows little signs of losing steam. In fact, many have called the industry “recession proof.”
Read more about the FaZe Clan SPAC, HERE
Or see other deals, and potential new deals, in the video game industry, HERE
Source: http://www.baystreet.ca/articles/stockstowatch/79287/FaZe-Clan-goes-public-in-725-million-SPAC