FaZe Clan Closes Funding Round With Jimmy Iovine And Celebrity-Backed E-Commerce Company NTWRK [Forbes]
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Source: Forbes
Rapper Offset, a FaZe Clan investor, and its CEO Lee Trink at a merchandise pop-up shop in Los... [+]Angeles, CA in December. (Photo by Jerritt Clark)Getty ImagesEsports company FaZe Clan announced today it closed a round of funding with music mogul Jimmy Iovine and NTWRK, a mobile e-commerce platform known for working with top brands like NikeNKEThe exclusive partnership grants NTWRK the direct-to-consumer rights to FaZe Clan’s products and allows them to do limited-edition merchandise drops.“I do not look at this terrible moment as an opportunity,” said Lee Trink, CEO and co-owner of FaZe Clan, on how he managed to raise money during a global pandemic. “But we are fortunate we are in the right industry for a moment like this, when everyone is turning to esports and streaming, and we are positioned to be bigger on the other side of it.”“That’s why you see investors like Jimmy getting in on this, and for the long-term,” Trink added.Forbesvalued FaZe Clan at $240 million in its recent
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