Posted by Gary O'Rielly on May 24, 2021
Our very special guest speaker on Friday, May 21st was Lorrie Roe with the Funko Marketing department. Funko started in a garage in 1998 in Snohomish by Mike and Claudia Becker. Funko is an American company that manufacturers licensed pop culture collectibles, best known for its licensed vinyl figurines and bobbleheads. 
 
Although Mike Becker sold Funko, he is still involved in the business. The international headquarters for Funko is at California Street and Wetmore Avenue in downtown Everett in the old Bon Marche' department store. The campus is composed of the financial operations and a retail operation encompassing 17,000 sq. ft. Once in the retail store, you can be lost in the giant Bat Mobile. A second retail store has opened in Hollywood, California with 40,000 sq. ft. of space. Statues and movie sets are part of the atmosphere in the Hollywood retail store. FunkO has the most licenses in the world at around 1,100 licenses. 
 
Funko has 550 employees in Washington State. Covid had an impact on the operations clogging the Ports as inventory was coming in from overseas.  Although the company struggled during the early part of Covid, the company adapted and had their best earnings ever.
 
There are many sides to Funko from the mystery minnies which go very quickly to exclusive conventions which are planned a year in advance. Hawaiian fans come in droves from the islands bringing macadamia nuts and so much more. It takes seven weeks for products to be made, licensed and prepared for market. Recently a Golden ticket two pack sold for $14,000.
 
Funko has acquired TokenWave, the company behind the TokenHead app and added Forrest-Pruzan Creative the board game maker known for games such as Disney's Villainous and Harry Potter: Hogwarts Battle and started Funko Games. They have exclusives with Barnes and Noble and a contract with Amazon.  Prior to Covid the stock registered at $6 per share and is now $25. Their charity wing has donated over 1/2 million dollars for Toys for Tots and Operation Home Front for the military.  Lorrie told us that the value of a collectible includes being in a original mint box.
 
Fun story and a really great program. Thanks Lorrie for sharing information about Funko, past, present and future.