so to start off just uh describe what briefly what is skills for people who aren't familiar with it so skills is building the competition layer for the internet we're the leading mobile esports platform in the world and that means we're a b to b to c technology platform enabling developers to build better competitive mobile video games and in terms of the consumer side we have a player community that engages in 62 minutes on average per day seeking out fair fun and meaningful competition on our platform this year they'll play about two billion tournaments on our
platform and of course you've agreed to merge with flying eagle acquisition company so you yourself are being spacked as it spoke as it said or you are deciding to spack and this is of course a the entity that helped take draftkings public itself via this method gaming is its expertise but andrew why have you decided to go to the public markets in this way so when we uh when we started the company eight years ago and when i came on seven years ago as ceo uh we had always planned to be ready uh to go
public by q4 of 2020 and this background uh and kovid sort of both fell into uh into place over the past six months uh as you guys are probably aware uh the uh the medium industry has seen uh exceptional growth uh due to covet and uh and skills also we had a uh the best quarter in the history of the company in q2 and this back route uh thus we were further along in our plans to go public uh than we had anticipated a little bit earlier and this background allowed us to go public faster
and more importantly i'd say to choose our partners with a minimal cost difference in our case uh we were able to get top top-tier institutional partners to invest in the company via pipe or private investment in public equity we had wellington fidelity franklin templeton and neuberger berman all participate uh in the pipe and and when i think about why i go public this way uh in our case we we have these great long-term institutional investors investing in the company and providing an exit for the venture capitalists who are already investors in their company yeah i
mean there's a pretty a long list of names attached to this legitimate names we should add and well respected names i am curious though about how uh some of those names or other folks maybe in your industry uh either advise you uh or just talk to you i guess about this process i mean i mean did you sort of reach out to anyone or did anyone reach out to you and sort of give you the lowdown on sort of what would be sort of the best avenue for skills absolutely um so we we had quite
a number of stacks approach us uh since the beginning of the year we chose fiat because of the incredible uh uh history they've had in running specs successfully most uh most recently with draftkings as as you all noted um harry sloan also uh the the lead on uh on fiat harry is an exceptional media and technology executive not just with draftkings but uh his his history is formerly ceo of mgm the movie production company and also as a long-term investor in zenimax the video game company so he he knows a lot about our industry and
uh and that was a major facet of this was partnering with someone who really understands our business joe i've heard that uh that uh companies are basically engaging in things called spack-offs and essentially that there is almost like this speed dating process going on between a company all these specs going public and the companies who are looking to go public was what was what's that process like and did you talk to any other companies that might have looked to acquire you we did we did look at other uh potential suitors uh in this back process
i think when you think about going public there are a few different paths now available to companies whether it's a direct listing a traditional ipo or or a spac in our case when you evaluate the the dilution against your ability to set up the company for the long term uh for us this fact made the most sense because we really view going public as an important milestone it gives us greater access to capital it enables us to grow faster but we're building a 100 year vision we've always believed that fair competition is something everyone should
be able to mistake in and so going public has always been our plan and it's really we're you know we're seven years for me eight years as a company and not in a hundred year plan so uh for us it's it's you know this is really just the beginning uh getting public i mean i've heard of 10-year plans but 100 year plans there's a whole new level andrew take us on that journey where do you want to go what's this money going to be useful so we talk about the competition layer for the internet and
today when you think about our business we expect to generate 225 million in net revenue in 2020. we expect to grow that to 555 million in 2022. that's a 57 kager and it's it's certainly something we're very excited about but when we think about the business when we started the business mobile gaming was 8 billion today it's 68 billion tomorrow in 2025 it's expected to be 150 billion and when you think about the opportunity for us to capture market share and grow our business it's pretty incredible as we look forward and that's that's why we
say it's so much earlier uh than it is late in this business because there's so much ahead of us to do in terms of growing the business
