Rapper and Twitch streamer Snoop Dogg (50) was on the board of directors of the e-sports company FaZe Clan for a year. However, he has now stepped down.
The e-sports organization FaZe Clan is more successful on social media than any other team in this field. However, the clan has established a controversial reputation in the past with dubious stories. Nevertheless, last year they had big plans to go public and break into new dimensions. For this, they brought in a well-known figure:
In March 2022, rapper and Twitch streamer Snoop Dogg became part of FaZe Clan. He was listed as a content creator and board member.
Here you can read everything about Snoop Dogg’s entry and FaZe’s plans:
After about a year, Snoop Dogg leaves FaZe Clan again
FaZe Clan recently released financial overviews and provided insights into the current status of the e-sports organization.
In a SEC filing, Snoop Dogg’s exit is announced: “On March 29, 2023, Calvin ‘Snoop Dogg’ Broadus, Jr. informed FaZe Holdings Inc. (the “Company”) that he is resigning from the board of directors (the “Board”) of the Company, effective immediately.”
It is also emphasized: “Mr. Broadus’ resignation was not the result of any disagreement with the Company or any of its subsidiaries.”
What are the reasons for Snoop Dogg’s resignation? No specific reasons are given for why Snoop Dogg is stepping away from FaZe Clan.
However, it is speculated whether the rapper’s resignation is related to the Company’s current financial situation. Because things are not going well for the e-sports company at the moment.
The IPO was a huge flop for the e-sports organization and the financial reports also show that 2022 was not a good year for FaZe Clan: The company incurred losses of approximately $53.2 million, and the value of their stock has fallen rapidly:
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