How FaZe Clan Snagged Investment by Jimmy Iovine During a Pandemic
Gaming entertainment network FaZe Clan closed on a multi-million dollar deal this week in the midst of the coronavirus pandemic, giving the esports company a boost for its roster of 85 video gaming influencers along with the ability to expand its merchandising. Chief Executive Lee Trink told TheWrap that while the team is working remotely, it closed on the investment from NTWRK, the mobile e-commerce company founded by Aaron Levant and Jamie Iovine, son of music producer and record executive Jimmy Iovine, who also is an investor and limited partner in the company. Trink, who previously worked as president of Capitol Records, leveraged his music industry connections to bring in Jimmy Iovine, who is now also a board member of FaZe. “We’re at the birth of a new disruptive entertainment genre,” Iovine said in a statement Thursday. “FaZe Clan is a very powerful pipeline into gaming culture and their cultural impact reminds me of the early days of 90s hip hop.” FaZe doesn’t own a team, but it co-operates the Atlanta FaZe, which competes in Activision Blizzard’s competitive Call of Duty League. The rest of the company’s effort is dedicated to managing a roster of online gaming influencers, who spend...
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