Faze Clan is on monitor to turn out to be a publicly traded firm. The aggressive esports group is merging with B. Riley Principal 150 Merger Corp. in a deal that values the mixed corporations at $1 billion (through Markets Insider). As part of the deal, Faze Clan estimates it may stand up to $291 million to assist fund its progress, in keeping with a post on Faze Clan’s website.

Faze Clan is understood for its groups that compete in Name of Responsibility, Counter-Strike: World Offensive, Fortnite, PlayerUnknown’s Battlegrounds, and extra. With an viewers of about 350 million individuals on social media, the group opened up Faze Studios final yr with one of many producers behind the Netflix unique 13 Causes Why. To additional bolster its fame, celebrities like NBA star Ben Simmons, hip hop artist Offset, and in style Twitch streamer NickMercs have all joined the group.

Faze Clan will hit the NASDAQ with the ticker image FAZE in 2022, however some are skeptical of its arrival on the inventory market. Jacob Wolf, a reporter for Dot Esports, criticized the $1 billion valuation of Faze Clan, noting that Swift Media Leisure, the mother or father firm of Group Solo Mid, is price lower than half as a lot.

In its publish, Faze Clan says that it plans to step outdoors of content material creation to realize a extra various income. As Wolf notes, this may increasingly imply that Faze Clan must purchase {hardware} corporations, software program, or add another kind of tech model to its portfolio. Esports group 100 Thieves did simply that earlier this month with its acquisition of Higround, a gaming peripheral firm, which enhances the group’s knack for attire design.

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