It wasn’t just a FaZe, mom

Heads up, Wall Street: Gen Z is here.

FaZe Clan, one of the biggest esports companies in the world, went public via SPAC yesterday in a deal valuing it at $725 million. According to CEO Lee Trink, it’s “the first Gen Z native brand to go public.”

🎮📱 A deeper dive… The online media company, which started in 2010 with gamers posting videos on YouTube, has 93 total members, consisting mostly of esports competitors and celebrities like Snoop Dogg, Lil’ Yachty, Kyler Murray, and LeBron James Jr.

• The group boasts more than 500 million followers across its combined social platforms, and earns revenue through branded streetwear, ads on YouTube/Twitch, and money from esports competitions.
• About 80 percent of FaZe’s audience is between the ages of 13 and 34.

👀 Looking ahead… Per Trink, FaZe’s esports business will be a smaller part of the company’s revenue in the future. Upcoming ventures may include expanding a gambling partnership with DraftKings, a ghost kitchen/delivery-only dining option similar to MrBeast’s Burger, and creator-focused initiatives like fan clubs or play-to-earn gaming.