- The popular esports company will go public on July 20
- It is evaluated to be worth almost one billion dollars
- This signifies FaZe’s Clan’s growth as a broad entertainment company
Investors will soon have the ability to buy shares of one of the world’s most popular esports organizations.
FaZe Enters the Stock Market
Over the years, the esports industry has grown at an astonishing rate. Aided in part by the many Covid lockdowns, when traditional sports gave way to online gaming events, large esports organizations like FaZe Clan have amassed many millions in revenue, putting them on par with larger well-established entertainment companies.
FaZe is now so big financially that on July 20 it will go public on the Nasdaq stock exchange allowing investors to buy shares of the growing esports company. This move has been in the works for many months, with this latest development being spearheaded by an SEC-approved merger with B. Riley Principal 150 Merger Corp that happened just a couple of days ago.
With a valuation just below one billion dollars at $987 million, FaZe’s marketplace name will be “FaZe Holdings Inc.” and its shares will be available on the Nasdaq Stock Market in New York City on Wednesday, July 20.
FaZe Has a Lot to Offer Investors
FaZe Clan is one of the world’s most popular esports organizations, making its name in the Call of Duty franchise in the mid to late 2000. Years after its foundation, the esports company still holds its top spot in the franchise, but also fields teams in many other FPS titles like Counter-Strike, Call of Duty, VALORANT, Fortnite, Halo, PUBG, and Rainbow Six Siege. In most recent times, FaZe has broadened its field of influence in games like Rocket League, Smash Bros., and FIFA.
With its entry into the Nasdaq Stock Market, FaZe becomes the third organization linked with Rainbow Six Siege that goes public. The first two were Astralis, which is currently listed in both Denmark and the USA and entered the stock market in 2019, and Enthusiast Gaming — the owners of Luminosity Gaming — which is currently both on the Nasdaq and the TSX in Canada.
FaZe’s entry onto such a big business field as the Nasdaq stock market signifies how much it has grown as an entertainment company. It has made merchandise partnerships with companies such as Disney and brands such as Naruto. FaZe has partnered with several traditional sports companies like Manchester City F.C. and the National Football League and has brought pop stars like Snoop Dogg into their fold.
With a portfolio like this, it was just a matter of time before FaZe Clan entered the stock market as a new entertainment company worth million, and possibly soon billions.