FaZe Clan is one of the brands focusing on video game and sports streaming that started on YouTube in 2010. With strong community support, FaZe Clan has grown little by little, and reached a value of $1 billion in 2021.
However, after being publicly listed through the Nasdaq exchange, Faze Clan faced challenges like many other sports companies, and showed losses year after year.
Most recently, esports brand and analytics company Gamesquare announced the acquisition of Faze Clan at a value of around $17 million. This can be said to be a very large difference when compared to the value at the time of listing on the Nasdaq exchange of around $725 million.
Through this takeover, FaZe Clan will focus back on their core fans, and operate as an independent company under Gamesquare. For information, Gamesquare also has several other brands under them, including Complexity, Stream Hatchet, as well as having the popular streamer Ninja as "Chief Innovation Officer".
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BUSINESS & MONEY