Skillz announces $65 million share repurchase program | Pocket

Skillz Launches $65 Million Stock Repurchase Program

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The board of directors of Skillz, a leading competitive mobile game platform, has approved a $65 million stock repurchase program. This move reflects the company’s confidence in its own growth and the belief that it has reached a level of financial stability where it can prioritize its strategic vision without the interference of shareholders.

Driving Growth

This stock repurchase program is just one of many recent developments indicating Skillz’s strong growth trajectory. In June, the company also opened a new office building in Las Vegas, solidifying its commitment to becoming the future of competition in the gaming industry.

CEO Andrew Paradise emphasized the significance of this expansion: “The purchase furthers our long-term commitment to building the future of competition in the world’s gaming capital. Establishing deeper roots in Las Vegas allows us to draw from expertise in world-class entertainment while attracting top talent to the company as we continue to grow.”

Expanding Influence

In addition to physical expansion, Skillz has made several strategic acquisitions, including mobile advertising outfit Aarki. The company has also formed high-profile collaborations, such as multi-year partnerships with the UFC and NFL.

One notable collaboration with the NFL involved hosting the NFL & Skillz Game Developer Challenge, where developers competed for the opportunity to use the NFL brand and club logos in mobile games.