Skillz is a mobile gaming/esports platform where users can compete and game developers share revenue.
- Investors including Wellington, Fidelity, Franklin Templeton, and Neuberger Berman funds have committed to a $159 million PIPE with total commitments exceeding $250 million.
- High growth business with projected 2022 revenue of $555 million, a 57% CAGR from 2020
- Andrew Paradise, CEO & Founder of Skillz, and Casey Chafkin, CRO and Founder of Skillz, will continue to lead the company
- Existing Skillz stockholders and Flying Eagle sponsor agreed to 24-month lock-up
Flying Eagle Acquisition Corp. (NYSE: FEAC) is headed by Harry Sloan, a media executive who was formerly the CEO of MGM. Sloan was also behind Diamond Eagle Acquisition Corp., which took fantasy sports platform DraftKings public via SPAC in 2020.
First day of trading Dec 17, 2020: Opened at $17.89, closed $22.73.
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