Faze Clan, a merchandising and influencer marketing agency that was once synonymous with the esports space, has fired CEO Lee Trink.
The firm maintained teams across many different esports titles, created gaming-adjacent content for social media platforms like Twitch and Snapchat, and sold branded apparel.
But Faze Clan has faced large losses under Trink’s leadership, including a reported $48.7 million from operations last year, per Bloomberg.
By the end of 2021 (the year when Trink began floating the idea, internally, of taking the company public), Faze Clan had more than $70 million in debt.
Seven former employees who spoke to Bloomberg described “a mismanaged organization marked by poor spending decisions, excessive pay and expansion into unprofitable categories like esports.” Notably, the company rented a series of luxury properties that incurred costs as high as $60,000 per month.
Most notably, the company drew criticism over its contract work with English YouTuber Sam Pepper, who has faced multiple accusations of sexual harassment.
The original article contains 413 words, the summary contains 160 words. Saved 61%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Faze Clan, a merchandising and influencer marketing agency that was once synonymous with the esports space, has fired CEO Lee Trink.
The firm maintained teams across many different esports titles, created gaming-adjacent content for social media platforms like Twitch and Snapchat, and sold branded apparel.
But Faze Clan has faced large losses under Trink’s leadership, including a reported $48.7 million from operations last year, per Bloomberg.
By the end of 2021 (the year when Trink began floating the idea, internally, of taking the company public), Faze Clan had more than $70 million in debt.
Seven former employees who spoke to Bloomberg described “a mismanaged organization marked by poor spending decisions, excessive pay and expansion into unprofitable categories like esports.” Notably, the company rented a series of luxury properties that incurred costs as high as $60,000 per month.
Most notably, the company drew criticism over its contract work with English YouTuber Sam Pepper, who has faced multiple accusations of sexual harassment.
The original article contains 413 words, the summary contains 160 words. Saved 61%. I’m a bot and I’m open source!