Funko History

How one Washington-based toy company started making adorable, big-headed figures of everyone from Superman to Tupac — and ended up dominating the collectibles market

Funko history began on March 6, 1998 when Mike Becker founded the little company with a nostalgia-themed bobblehead line called Wacky Wobblers. The first item the company ever created was the Big Boy bobblehead.

Funko’s history changed in 2005 when Brian Mariotti became the company’s new CEO. The first new line to come from his leadership was Fantastik Plastik. These vinyl figures included characters like Duck Dodgers, Wacky Racers, and Mad Monster Party. These were different from the bobblehead characters Funko was famous for because they were more like statues and static in nature. Following the success of the Fantastik Plastik line, the company released its own original characters in the Spastik Plastik line. This was a limited line that featured Funko’s very own characters that looked like clowns, pigs and frogs.

The company’s most successful line, the Pop! Vinyl figure, officially debuted in 2010 , which was originally called Funko Force 2.0. At the 2010 San Diego Comic-Con, Mariotti decided to debut a prototype the company had been working on, known as Funko Force 2.0. (The line was a slightly less detailed version of the company’s original Funko Force line.) He brought four figures made of DC Comics characters — Green Lantern, Batgirl and not one but two Batman collectibles — to the convention. By 2012, the company had sold more than $20 million worth of merchandise.

Soon, Funko was able to secure 25 more licenses, and eventually pushed the product into outlets other than comic-book and collectible shops — thinking outside of the box by placing the toys in big-box stores and mainstream online retailers. Soon, devoted fans began posting on forums about the figures, making spreadsheets about the brands and blogging about their customized Pops; once Game of Thrones cast members started endlessly posing with their figures, Funko’s cultural cachet allowed the company to expand its empire even further.

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. Funko Pops are now available from 25,000 retail brands worldwide, from Walmart to Amazon to Hot Topic and even, somewhat bizarrely, Foot Locker. In 2018, the company’s net sales increased 33 percent to $686.1 million, with figurines accounting for 82 percent of all sales. After the company released its Q2 earnings report in early August, declaring that sales up are 38 percent compared to this time last year, CEO Brian Mariotti called his company “recession proof.”

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. 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".

Funko products are designed at the Funko headquarters in Everett, Washington and in other locations throughout the U.S. New figures are designed with input from licensors, in-studio artists, and fans through social media. Funko artists use ZBrush to create digital models that are revised before being made into prototype sculptures, which are sent for approval from manufacturers and licensors. The completed figures are manufactured at factories in China and Vietnam. Funko has created thousands of different products in dozens of different toy lines since its inception.

Most Funko Pop! figures are not bobbleheads, as their heads do not move. However, all Star Wars figures in the line are bobbleheads, as well as most Marvel figures. This is to avoid licensing conflicts with Hasbro, the company which holds the license to make ordinary (non-bobblehead) figures of characters from these franchises Within the Funko Pop! product line, there is a series known as Pop! Rides, featuring the Funko Pop figure in a vehicle. The Funko Pop! line also has figures that are larger than the standard figure, in 6-inch, 10-inch, 18-inch, and the now-retired 9-inch size.In addition, Funko produces Pop! Deluxes, where a character is seated on external set pieces, such as a throne, and occasionally a vehicle or creature. Funko also started creating Movie and Comic Moments, which feature posed Pop! figures interacting with each other and on display bases in ways that replicate moments from different movies and comic books. Funko has also created a line featuring artists with their album covers, this line can be found as Pop! Albums. Pop Towns includes a Pop! Vinyl figure alongside a stylized version of a landmark building from the source material.

In 2015, Funko and Marvel partnered to launch Marvel Collector Corps, a subscription box service featuring exclusive collectibles, apparel, and accessories. Boxes shipped every two months. It subsequently launched a subscription box service for Star Wars items called Smuggler's Bounty, a DC subscription box called Legion of Collectors, and a Disney subscription box called Disney Treasures. Also, the subscription box known as Loot Crate occasionally contains an exclusive Funko Pop! vinyl figure which aligns with each monthly box theme. Loot Crate has offered an exclusive Funko Pop! figure with its other products as well.

As of 2018, Funko no longer offers these boxes through a subscription. The Collector Corps, which focuses on Marvel collectibles, is now available through Amazon. The Disney Treasures box, which focused on Disney collectibles, was available at Hot Topic, but ended in October 2019. Star Wars Smuggler's Bounty boxes were available through Amazon, but ended in December 2019.

In February 2019, Funko acquired award winning board game development studio Forrest-Pruzan Creative forming Funko Games. Funko Games has begun publishing strategy games across different licenses, including their flagship game Funkoverse. In May 2019, Funko acquired the fashion accessories line, Loungefly.

A live action/animated hybrid film based on the Funko toys is in development at Warner Animation Group. If produced, it may also be the first theatrically released film to crossover Marvel and DC Comics characters; given that characters to be included will be Deadpool, Harley Quinn, Wonder Woman, Darth Vader, Hellboy, Hello Kitty, My Little Pony, Transformers (including Optimus Prime), Power Rangers, Masters of the Universe (including He-Man and She-Ra), and Care Bears, with the newest debuting Funko Pop!s featured in the movie being Spin Master Entertainment's PAW Patrol.[39] The film was announced in active development on September 16, 2019, with directors Mark Dindal and Teddy Newton attached to the project.

Funko now has more than 1,000 licensed properties, their approach is similar to that of the fast-fashion world — products are frequently licensed, designed, and released in a matter of months, with some available in just 70 days.