Faze Clan is a YouTube E-sports channel whose teams compete in Call of Duty, Counter-Strike: Global Offensive, Fortnite, PlayerUnknown’s Battlegrounds and other online games. The channel has a 350 million audience on social media!
Here are the details for a deep dive:
Faze Clan opened up a studio with one of the producers of the Netflix show - 13 Reasons Why. Faze Clan will hit NASDAQ as $FAZE in 2022. The company plans to get $291 million as a fresh source of funding to rake itself up but there’s more - Faze also collaborated with NBA star Ben Simmons, hip hop artist Offset, and popular Twitch streamer NickMercs to further bolster its reputation.
Faze Clan says that it plans to step outside of content creation to gain a more diverse source of revenue. It may even acquire hardware companies to expand its growth.
Here’s our source: Faze Clan is going public in $1 billion SPAC deal - The Verge
In case you’re wondering what SPAC is: SPAC is a special purpose acquisition company. “Basically, a pile of cash reserved for a merger that went through the initial public offering (IPO) process. The entire point of the SPAC is to find a private company to merge with. When that happens, the target company essentially goes public without some of the hassles of the traditional IPO process.” - quoted from The Verge.
Maybe SPAC’s the way to notch up your investments fast?