Published: July 21, 2022

Esports and Gen Z-focused media platform FaZe Clan debuts on Nasdaq after $725M SPAC merger

Gaming and youth culture media platforms FaZe Klan completed it on tuesday $725 million business combination with a special purpose acquisition company (SPAC) sponsored by an affiliate of B Riley FinancialAnd Began trading as a public company on Nasdaq On Wednesday, under the new ticker symbols “FAZE” and “FAZEW”.

Announced in October last year, B. Following the merger with Riley Principal 150 Merger Corp., the name of the combined company is changed to “Faz Holdings Inc.”. To celebrate the public listing of FaZe, the organization’s talent roster, including brand founders, executive management team members and content creators and esports professionals, rang the opening bell On the Nasdaq MarketSite in New York’s Times Square.

Launched in 2010, FaZe Clan includes offerings in the markets of online gaming, esports, sports merchandise and digital content. It has a fan base network of approximately 500 million on its combined social platforms, and approximately 80% of its audience is between the ages of 13–34., The company has received funding and support from celebrities including rappers Pitbull and Offset, e-commerce platform Ntwrk, media executive Jimmy Iovine. It counts athletes Kyler Murray and Ben Simmons among its content creators.

In November last year, DraftKings teamed up with the FaZe clan, becoming Official Sports Betting, iGaming, Daily Fantasy and Free-to-Play Partner of a digital-native lifestyle brand. The agreement sees the two companies unite on a digital platform for a range of content activations. FaZe has also partnered with leading companies including McDonald’s Corp and Verizon Communications To target young consumers.

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