-21%

est. 2Y upside i

Series C

100 Thieves is a lifestyle brand for gamers. It fields esports teams, hosts live events and produces themed apparel.

Rank

#626

Sector

Esports, Gaming, Apparel, Entertainment

Est. Liquidity

~2Y

Data Quality

Data: Medium

100 Thieves presents a strong upside opportunity for a job seeker, driven by its robust brand, high growth (111% YoY revenue), and diversified revenue model across esports, apparel, and content.

Last updated: March 10, 2026

Bull (35%)+200%

100 Thieves leverages its strong brand and content creator network to significantly expand its apparel and merchandise lines, securing major global collaborations and successfully launching new ventures like Project X. Revenue reaches over $120M by 2028, and a premium valuation multiple of 11-12x is justified by market leadership and profitability, leading to a $1.38B valuation.

Base (40%)+123%

100 Thieves maintains its strong position in esports and gaming lifestyle, growing revenue at a healthy but decelerated pace (e.g., 50% YoY). Continued brand collaborations and content drive steady growth, pushing revenue to approximately $85M by 2028. An exit at a 12x revenue multiple results in a $1.026B valuation.

Bear (25%)-50%

Increased competition from established entertainment companies and other esports organizations, coupled with a slowdown in the broader gaming market, leads to decelerated growth and margin pressure. Revenue growth stalls, and the valuation multiple contracts significantly. A down round or acquisition at a $230M valuation results in a substantial loss for common shareholders due to liquidation preferences.

Est. time to liquidity~2.0 years

Preference Stack Risk

high

Funding Intensity

28%

Investors hold $130M in liquidation preferences. In a $460M exit, common shareholders would receive $330M. In a bear case $230M exit, common shareholders would receive only $100M.

Dilution Risk

moderate

Given the time since the last funding round (Series C in 2021), there's a moderate risk of further dilution from a potential Series D round before an exit.

Secondary Liquidity

limited

As a Series C private company, secondary liquidity for employee equity is likely limited, with no active public market for shares.

Other — 2 roles

View all 2 open roles at 100 Thieves →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on 100 Thieves's data — designed to show you've done your homework.

  • 1

    “How is 100 Thieves planning to sustain its impressive growth rate in the face of increasing competition from both traditional entertainment companies entering the gaming space and other well-funded esports organizations?”

  • 2

    “Given the significant time since the Series C round in 2021, what is the company's current strategy and timeline for a liquidity event (e.g., IPO or acquisition), and how does the preference stack impact potential returns for common shareholders?”

  • 3

    “With the success of collaborations like Oakley and Pokémon, how does 100 Thieves plan to scale its apparel and merchandise business further, and what are the key operational challenges in managing a high-growth physical goods segment?”

Community

Valuation Sentiment

Our model estimates -21% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.