FaZe Clan is becoming a publicly listed company on Nasdaq, the esports organization announced today.
FaZe is leaning heavily on its social media presence in its valuation, touting itself as “a leading digital content platform created for and by Gen Z and millennials, FaZe Clan has established a highly engaged, loyal global fan base of over 350 million.”
“The proposed business combination transaction (the “Business Combination”) implies an equity value of approximately $1 billion for the combined company inclusive of nearly $275 million of cash (assuming no redemptions),” FaZe’s announcement reads. “Through the proposed business combination, FaZe Clan is positioned to become one of the only digitally native, youth-focused lifestyle and media platforms publicly traded on a U.S. national exchange.”
The organization that began as a team of Call of Duty YouTube montage-makers and evolved into a full-fledged brand is merging with B. Riley Principal Merger Corp. and will henceforth be traded on Nasdaq under that name (BRPM).
FaZe’s presentation to potential investors also revealed several future plans for the organization, including how it expects to expand in the next few years. Plans include going international, NFTs, branded peripherals, and even potential food partnerships.
The presentation contains another slide about expansion into other esports outside of the ones that FaZe is already invested in. Touting its 30 championships, the company specifically names League of Legends, Wild Rift, Halo, Free Fire, and Apex Legends as potential games for expansion.