FaZe Clan now publicly traded company, but value already dropping Eurogamer.net If you click on a link and make a purchase we may receive a small commission. Read our editorial policy. FaZe Clan now publicly traded company, but value already dropping CEO aims to invest in Web3 next. News by Ed Nightingale News reporter Published on 21 Jul 2022 8 comments FaZe Clan is now a publicly traded company, but its value is already dropping. The organisation of esports professionals and gaming influencers has begun trading on the Nasdaq to become one of only a few esports companies on the market. However, when FaZe agreed last October to merge with acquisition company B. Riley Principal 150 Merger Corp., it was valued at close to $1bn. Now that value is closer to $716m. Watch on YouTube Eurogamer Newscast: In a year short on Sony and Microsoft exclusives, is this the Switch's best yet? That's based on 72.5m shares outstanding at $9.88, as reported by Bloomberg. The group boasts over 500m global followers across social media and has a roster of 93 "influential personalities" from gaming, esports, and beyond, of which only one is a woman. FaZe Clan is officially a publicly traded company. $FAZE pic.twitter.com/QjrOhJ9ffx- FaZe Clan (@FaZeClan) July 20, 2022 To see this content please enable targeting cookies. Manage cookie settings Daniel Shribman, B. Riley's chief investment officer, sees FaZe as "a brand that speaks to today's youth culture like Nike spoke to yesterday's." "We've been preparing for over a year to become a public company," said CEO Lee Trink. "In the time that we've announced our merger, we've put together a stellar management team and a world class board of directors to oversee the company. FaZe Clan has a professional management team and a public company board to run the business, but as a brand at the forefront of youth culture, it's critical to include the perspectives of Gen Z and our people who have an innate knowledge of the internet community and the brand." However, FaZe Clan has been rocked by controversy, something it thrives on. That includes kicking out a member for a crypto scam, or more recently banning a member for abusive, racist language. Bloomberg reports of internal volatility at the organisation, with one former employee describing it as a "shit-show" of kids with no experience in business or branding calling the shots. "It's edgy, deep-in-youth-culture, deep-in-gaming-culture," said Shribman. "That's what makes it what it is. If there were no controversies, that would be pretty boring." Trink's next move will be investing in Web3 - he is "unquestionably" pushing into crypto despite its reputation. Become a Eurogamer subscriber and get your first month for £1 Get your first month for £1 (normally £3.99) when you buy a Standard Eurogamer subscription. Enjoy ad-free browsing, merch discounts, our monthly letter from the editor, and show your support with a supporter-exclusive comment flair! Support us View supporter archive More News Atari will hold RollerCoaster Tycoon rights for another decade Ups and downs. 7 Lady Dimitrescu will be a tad smaller in Resident Evil Village's Mercenaries DLC Level the playing field. 1 Overwatch 2 suffers another DDoS attack and character roster bugs Mei Mei. 8 Nintendo Switch firmware update lets you take screenshots in the Switch Online app The app on your console, not your phone. 7 Latest Articles Genshin Impact Path of Gleaming Jade dates, login event rewards Including other anniversary rewards and how to claim them. Atari will hold RollerCoaster Tycoon rights for another decade Ups and downs. 7 Jelly Deals Logitech's G Pro X gaming headset is its lowest-ever price during Amazon's Early Access sale Prime Members can get it for just £52. Jelly Deals Save over £500 off the retail price on this beefy ASUS TUF Dash gaming laptop from Amazon Under £1080 for an RTX 3070 laptop. Supporters Only Premium only Off Topic: Take a minute to appreciate Cookin' with Coolio's incredible scallops recipe. What a great book. Premium only Off Topic: Reading City of Glass in comic form "Where exactly am I going?" Premium only Off Topic: Il Buco is a transporting film about a really big hole Underlands. Off-Topic Netflix handled Sandman brilliantly It was Dreamy. 9 Buy things with globes on them And other lovely Eurogamer merch in our official store! Explore our store