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Skillz

GamingUSA
📉 Public < $1B
Peak $10 BillionToday
~-99%
from peak
  1. 🦄
    Became a unicorn
    2020
  2. 📈
    Peak valuation
    $10 Billion ’21
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$100M
Current status
Public ~$0.1B; post 1:20 reverse split

How it happened

Skillz ran a mobile competitive gaming platform letting players wager on skill-based 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. A 1-for-20 reverse split followed as its market cap sank far below unicorn status.

Source: stockanalysis.com May 2026