FaZe Clan is now worth $1 Billion after going public

The esports organization FaZe Clan announced that they are set to become a publicly traded company. FaZe Clan is merging with B. Riley Principal 150 Merger Group. The deal between the two entities values both at a combined $1 billion.

FaZe Clan is known for their esports teams in CS:GO, Fornite, Call of Duty, Rocket League, and more. Recently, the organization has made waves in the entertainment and streaming business as well. After signing NICKMERCS, the Twitch streamer was signed as Under Armor’s first esports athlete and went on the cover of Sports Illustrated.

The organization itself has already gone on a spending and partnership spree. FaZe Clan has recently made deals with DC Comics, McDonalds, and more. The group also launced FaZe Studios alongside the producer’s of Netflix’s 13 Reasons Why.

FaZe Clan will reportedly hit the NASDAQ under the ticker symbol FaZe in 2022. Some have disputed FaZe’s claims that they are now valued at $1 billion. Jacob Wolf of Dot Esports pointed out that TSM, even after their massive FTX deal and merger with Swift was valued at half of FaZe’s estimates.

Whether or not this is true, FaZe Clan is expected to go on a spending spree in the next year. While FaZe has already massively diversified their media portfolio, they will likely continue expanding and branching out. Some have speculated that this may include hardware, software, or other related industries.

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Image Credits: FaZe Clan