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Faze Clan

All articles tagged with #faze clan

business2 years ago•1 min saved

GameSquare Acquires FaZe Clan, Bringing Back OG Founders and Banks as CEO

Gaming analytics and esports brand company Gamesquare is acquiring gaming influencer group Faze Clan in an all-stock deal worth $17 million, a significant drop from Faze Clan's $725 million valuation after its SPAC merger last year. Faze Clan has struggled since going public, posting a $28.4 million loss in the first half of 2023. Under Gamesquare, Faze Clan's original founders will take leadership roles, and the company will operate as an independent division, re-engaging with its core fanbase. Gamesquare also owns esports brand Complexity, and the acquisition is expected to close in Q4 2023.

via The Verge|

#acquisition #business #esports

business2 years ago•2 min saved

FaZe Clan's Acquisition by GameSquare Signals Major Changes for Gaming Industry

Esports company GameSquare, backed by Dallas Cowboys owner Jerry Jones, is set to acquire FaZe Clan in an all-stock deal, valuing the struggling influencer and gamer brand at approximately $16 million. The combined company aims to leverage their media, agency, gaming, and technology capabilities, with a total annual revenue of around $138 million in 2022. FaZe Clan founders will be appointed to top positions within the brand, which will operate as an independent division of GameSquare. The deal is expected to close in Q4 2023, pending shareholder approval, and is projected to result in $18 million in cost-saving synergies.

via Variety|

#acquisition #business #esports

esports2 years ago•6 min saved

FaZe Clan Joins Forces with GameSquare Holdings in Landmark Merger

GameSquare, the esports company backed by Dallas Cowboys owner Jerry Jones, has acquired FaZe Clan, one of esports' oldest and most recognizable brands. The all-stock transaction merges the two companies, with FaZe stock accounting for approximately 45 percent of the firm's ownership. FaZe Clan, which has faced controversy and a collapsing share price, still holds significant value with its massive following of 260 million across social channels. The acquisition provides an opportunity for GameSquare to bolster its connections with the competitive gaming audience and potentially rerate its stock. FaZe Clan's creator-founders will return to leadership positions, and GameSquare aims to steer the brand back to its former glory. However, the challenge lies in attracting new sponsors and addressing the issue of toxicity and brand safety.

via Digiday|

#acquisition #controversy #esports

gaming2 years ago•1 min saved

Controversial Call of Duty Skins Removed Amid LGBTQ+ Backlash

Call of Duty streamer and FaZe Clan co-owner, Kolcheff, is having his in-game skin removed following his anti-LGBTQ+ comments on social media and during a livestream. The controversy arose after he tweeted about an anti-LGBTQ+ protest at a school board meeting and doubled down on his sentiment during a livestream. The incident highlights the ongoing attacks on gay and transgender rights in several states, including Florida where Kolcheff resides. FaZe Clan has not commented on whether it will take any action against Kolcheff, and the group has faced criticism for its handling of LGBTQ+ issues in the past.

via Kotaku|

#anti-lgbtq-controversy #call-of-duty #faze-clan

gaming2 years ago•2 min saved

"Call of Duty removes Nickmercs skin over LGBTQ comments"

Call of Duty has removed a skin based on popular Warzone streamer and FaZe Clan co-owner Nicholas "NickMercs" Kolcheff after controversy over a tweet surrounding an LGBTQ protest. The move highlights the reputational risk gaming companies can face when running promotions based on real-life gaming personalities.

via Ars Technica|

#call-of-duty #faze-clan #gaming

gaming2 years ago•2 min saved

Activision Removes Nickmercs' Call of Duty Skin After Anti-LGBTQ+ Tweet

Activision has removed the Nickmercs Call of Duty skin following an anti-LGBTQ+ tweet from the Faze Clan streamer. The tweet was in response to a post showing a clash between anti and pro LGBTQ+ demonstrators outside a school voting to recognise June as Pride Month. Nickmercs refused to apologise for his comment or take down the tweet, but denied holding anti-LGBTQ+ beliefs. The Nickmercs skin was released on May 31, 2023, and it's unclear if it will return to the game or if Activision has removed it for good.

via IGN|

#activision #call-of-duty #faze-clan