Skillz Gaming officially goes public after merger – Business MattersBusiness Matters

If you are looking for exposure to the mobile esports world, then Skillz Inc. could be your way in.

In terms of the mobile esports world, Skillz Inc. made its mark this week with a 29% stock increase that amounts to $22.73 following a deal with a special-purpose acquisition company that allowed it to go public.

Skillz allows 2.7 million players per month to compete with others on their mobile phones for points or rewards in games such as Solitaire Cube or Blackout Bingo. Approximately 1,700 tournaments are run per second.

The Jump

Small-to-midsize game developers make money without having to sell to big companies with Skillz. Gamers can use a trustly gaming guide to find an assortment of tournaments. When reaching those tourneys, Skillz takes away the ad promotions. However, consumers must pay tournament feeds and Skillz receives about 14% of the cut. With Skillz now going public, the developers don’t have to worry about the financial worries anymore because the brand will now make money off brand-sponsored advertising.

What allowed Skillz to go public was a blank-check company named Flying Eagle Acquisition Corp. Other investors included Wellington Management, Fidelity Management & Research, Franklin Templeton, and Neuberger Berman.