User:Cement Eater/sandbox

Public Company
In July 2022, FaZe clan became a publicly traded company. The company had only received portion of the money they were promised by private investors ahead of their merge with B. Riley Principal 150 Merger Group. On January 20, 2023, the price of their stock fell below a dollar for the first time, which lead them to be at risk of being delisted. According to Nasdaq policy, if a company's stock is under $1 for more than a month, the company will receive a deficiency notice, in which they have 180 days for the stock to be $1 or more for ten consecutive business days. On February 15, 2023, the stock was at $0.76.

Lee Trink, the CEO, expressed concerns and stated that the company is working towards a solution to their problem. As of September 2022, it has been reported that the organization has enough money to last them until November 2023.

2023 Layoffs
In February 2023, FaZe clan laid off 20% of its staff. According to the CEO, Lee Trink, It was a result of the uncertainty of the economy. He had also stated that the company will focus on financial discipline. Despite the changes, Trink expressed confidence that revenue will continue to grow for the organization. He reported that the revenue growth for 2022 was a 25% increase from 2021.

Partnerships and collaborations
In January 2023, FaZe clan announced a shoe collaboration with Nike. This collaboration came in the form of a Nike LeBron Nxxt Gen with the co-branding and colors of FaZe clan. The shoe was debuted in a game played by Sierra Canyon, the school where Bronny James, LeBron James' son, played for.

In February 2023, FaZe clan announced a collaboration with A Bathing Ape (BAPE). The collaboration included a number of FaZe clan and BAPE branded apparel and accessories.

On February 22, 2023, FaZe clan announced a collaboration with GHOST Energy. This collaboration came in the form of an energy drink with an new flavor called "FaZe Pop." The drink is said to be zero sugar, have no artificial flavorings, and contain 200mg of caffeine.

Possibly useful links:

https://www.esports.net/news/faze-clan-layoffs/

https://dotesports.com/business/news/faze-clan-fired-20-of-its-staff-despite-ceo-touting-incredible-growth

https://www.dexerto.com/esports/faze-clan-stock-drops-to-all-time-low-following-layoffs-of-staff-2064161/