Media biz? Sports team? Gaming company?
Yes to all of the above.
It's hard to sum up exactly what Faze Clan is. If gaming isn't your thing it's even harder to wrap your head around, but Faze is essentially a media company. People watch their members play video games, and they monetize those eyeballs with ads, sponsorships, merchandise, exclusive content and more. And they have a lot of eyeballs.
According to Faze, its members have more than 330 million followers on social media, which is a bigger combined following than a number of huge sports franchises, including the LA Lakers.
Of course having a social media following doesn't equal having a great business. Faze is very much at the early stage of its monetization, suggesting that the company's rosy projections are doing a lot of heavy lifting in achieving that $1bn valuation.
Source: https://www.chartr.co/
