{"id":47378,"date":"2023-10-20T16:34:57","date_gmt":"2023-10-20T16:34:57","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/20\/faze-clan-acquired-for-17-million-one-year-after-its-725-million-spac\/"},"modified":"2023-10-20T16:34:57","modified_gmt":"2023-10-20T16:34:57","slug":"faze-clan-acquired-for-17-million-one-year-after-its-725-million-spac","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/10\/20\/faze-clan-acquired-for-17-million-one-year-after-its-725-million-spac\/","title":{"rendered":"Faze Clan acquired for $17 million, one year after its $725 million SPAC"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Gaming analytics and esports brand company Gamesquare, which counts Dallas Cowboys owner Jerry Jones as one of its investors, <a href=\"https:\/\/investors.gamesquare.com\/news\/news-details\/2023\/GameSquare-To-Acquire-One-of-the-Biggest-Names-in-Gaming-FaZe-Clan\/default.aspx\" target=\"_blank\" rel=\"noopener\">is acquiring<\/a> the struggling gaming influencer group Faze Clan. The all-stock deal is worth about $17 million, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-20\/faze-clan-is-being-acquired-by-a-company-backed-by-jerry-jones?leadSource=uverify%20wall\" target=\"_blank\" rel=\"noopener\"><em>Bloomberg<\/em> reports<\/a>, a steep drop-off from Faze\u2019s $725-million valuation at the time of its special purpose acquisition company, <a href=\"https:\/\/www.theverge.com\/2022\/7\/20\/23271414\/faze-clan-public-spac-deal-merger\" target=\"_blank\" rel=\"noopener\">SPAC, merger in July of 2022<\/a>. <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Now, under the umbrella of Gamesquare, Faze Clan leadership is reverting back to its original founders, including Richard \u201cFaze Banks\u201d Bengtson, who will serve as CEO, Thomas \u201cFaze Temperrr\u201d Oliveira, taking place as president, and Yousef \u201cFaze Apex\u201d Abdelfattah, who takes over as COO. Faze Clan will operate as an independent division of Gamesquare and will be \u201cre-engaging with its core fanbase,\u201d according to the press release.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Gamesquare also owns esports brand Complexity, under which famous Twitch streamer Tyler \u201cNinja\u201d Blevins <a href=\"https:\/\/www.forbes.com\/sites\/mattcraig\/2023\/02\/22\/tyler-ninja-blevins-joins-gamesquare-as-innovation-chief-to-build-a-new-future-for-esports-industry\/\" target=\"_blank\" rel=\"noopener\">serves<\/a> as chief innovation officer. Faze Clan and Gamesquare plan to close the acquisition in Q4 2023.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/2023\/10\/20\/23925149\/faze-clan-gamesquare-acquisition\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gaming analytics and esports brand company Gamesquare, which counts Dallas Cowboys owner Jerry Jones as one of its investors, is acquiring the struggling gaming influencer group Faze Clan. The all-stock deal is worth about $17 million, Bloomberg reports, a steep drop-off from Faze\u2019s $725-million valuation at the time of its special purpose acquisition company, SPAC, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":47379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-47378","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/47378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=47378"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/47378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/47379"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=47378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=47378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=47378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}