The key moments, with employee sentiment along the way.
2012
🌱
2012
Founded
Andrew Paradise builds a platform that turns mobile games into skill-based cash tournaments.
TechCrunch
Dec 2020
🦄
Dec 2020
SPAC debut puts it in the club
Completes its merger with Flying Eagle Acquisition Corp and lists on the NYSE during the SPAC boom.
CNBC
2021
📈
2021
The peak: ~$10B in the pandemic gaming boom$10B
The stock tops out early in the year, valuing the tournament platform around $10B.
Macrotrends
2021–22
2021–22
Marketing outruns the players
User-acquisition spend balloons while paying users decline and losses persist; the stock gives back most of its gains.
CNBC
2022
💔
2022
Slips out of the club
The market cap sinks far below $1B as the slide continues.
Macrotrends
2022
💬
From the inside · Glassdoor reviews, 2022
Glassdoor reviews from the 2022 slide described morale sinking with the share price: several layoff rounds and heavy attrition, a return-to-office order that reversed earlier remote-work promises, monitoring software appearing on laptops, and top-down decisions that left employees feeling they had little say in the company's direction.
2023
2023
1-for-20 reverse split
The split keeps the listing alive as the market cap settles around $0.1B.
CNBC
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Skillz ran a mobile competitive gaming platform letting players enter skill-based cash tournaments, and went public via SPAC in 2020, peaking around $10B in 2021. Heavy marketing spend, declining paying users and ongoing losses crushed the stock, which fell roughly 99% to about $0.1B, and a 1-for-20 reverse split followed as its market cap sank far below unicorn status.
