Funko
#8027
Rank
$263.84M
Marketcap
United States
Country
Mr. Brian Richard Mariotti (CEO & Director)
Mr. Andrew Mark Perlmutter (Pres & Director)
Mr. Scott Yessner (Interim CFO)
Summary
History
Funko was founded in 1998 by toy collector Mike Becker at his home in Snohomish, Washington. He started the business after failing to find an affordable coin bank of the Big Boy Restaurants mascot, instead licensing the rights to make his own coin banks from a Big Boy franchise in Michigan. The coin banks failed to sell and the franchise filed for bankruptcy protection, but Funko remained in business after licensing the rights to bobbleheads for Austin Powers, which sold 80,000 units. After this, some of the first characters that Funko sold were the Grinch, Tony the Tiger, and Cheerios mascot, the honeybee. In 2005, Becker sold Funko to its current Chief Creative Officer, Brian Mariotti, who moved its offices to Lynnwood, Washington, and significantly expanded the company's licensed product lines. In 2011, Funko began selling their Pop! Vinyl line of figurines. By 2012, the company had sold more than $20 million worth of merchandise.The company was sold to Fundamental Capital, a private equity firm, in 2013 to raise funds. ACON Investments, LLC announced in late 2015 that it had acquired Funko from Fundamental Capital, LLC, but would keep current staff and the head of company.By 2016, it had outgrown its original headquarters in Everett and announced plans to move into a downtown building with more space and a retail store. Funko acquired British toymaker Underground Toys, also its European distributor, in early 2017. Funko opened its new headquarters and 17,000-square-foot flagship store in downtown Everett on August 19, 2017. Funko was listed on the NASDAQ stock exchange on November 2, 2017, but suffered the worst initial public offering of the 21st century, with shares falling by 40 percent and only raising $125 million.
In May 2019, Funko acquired the fashion accessories line, Loungefly.
The company opened its second storefront in November 2019, located in Hollywood, Los Angeles. It has 40,000 square feet of space and includes life-size statues and movie "sets".In June 2022, Funko acquired Mondo, a high-end pop culture company.
Mission
Vision
Key Team
Ben Avenia-Tapper (Director of Investor Relations)
Mr. Tracy D. Daw (Chief Legal Officer & Sec.)
Jessica Piha-Grafstein (Director of PR)
Ms. Molly Hartney (Chief Marketing Officer & Sr. VP of E-commerce)
Andrew Harless (Mang. of Investor Relations)
Recognition and Awards
References
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Mr. Brian Richard Mariotti (CEO & Director)
Mr. Andrew Mark Perlmutter (Pres & Director)
Mr. Scott Yessner (Interim CFO)