Skillz
GamingUSA
New to Unitard
📉 Public < $1B
Peak $10 BillionRecorded estimate
~-99%
from peak
- 🦄Became a unicorn2020
- 📈Peak valuation$10 Billion ’21
- 💔Became a Unitard~2022
- 💸Last valuation estimate~$100M
Current status
Public; post 1:20 reverse split
The rise & fall
7 moments · 2012–2023The 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.
Source: stockanalysis.com May 2026
Founder
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.
