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The parent organization of the esports org Ninjas in Pyjamas, NIP group, decided to go public after filing an IPO (Initial Public Offering) on the NASDAQ on June 19, 2024. For those who don’t know about NASDAQ, it’s a stock market index on the American Stock Exchange. The parent org hopes to raise a massive amount of $5 million after making the company public. However, this isn’t the first time an esports organization has gone public. Big names like Astralis and FaZe Clan have also made it to the list, way before the Swedish powerhouse.
With that in mind, this article will provide some insights into the financial details of the NIP group, alongside their future planning in this context.
NIP raising public funds to enhance esports teams
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As mentioned previously, NIP plans to raise some public funds (approx $5 million), for enhancing the talent management sector, brand marketing area, event production, and many other spaces. By doing so, they’re trying to restore their former glory in the European, as well as the international stage.
NIP (Ninjas In Pyjamas) group is the parent organization for two esports Brands, eStar Gaming (for mobile) and Ninjas in Pyjamas (PC and Console). The groups usually hire talents from different regions like EMEA, the Americas, Asia, and the Pacific. Additionally, they possess various esports teams participating in different competitions of Valorant, Fortnite, Counter-Strike 2, R6 Siege, and many more.
That said, despite participating in various tournaments, the organization failed to win something big. Hence, they decided to raise some public funding to ensure their strong foundations in the esports scene. On the other hand, based on their IPO filing, the organization valued their brand name at $24 million, and net working capital around $2 million.
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