Funko just filed to go public. It wants to raise $100 million in its IPO. It will trade under the ticker symbol FNKO.
It did $450 million in sales last year. It has over $300 million in debt. It plans to use part of the IPO proceeds to pay down some of its debt.
It opened up a new headquarters in March 2017. It looks like an amusement park. We would like to visit their HQ sometime soon.
Their profit margins are in the 20% range. It expects to have $1 billion in sales per year within the next 5 years.
How does it plan to grow from $450M to $1B in sales?
* It wants to sell more product overseas. Right now 20% of its sales come from overseas.
* It plans on selling their collectibles in the future in grocery stores, drug stores and dollar stores. Right now they sell product in 2,000 stores including GameStop, Hot Topic, Walmart, Target and Best Buy.
They sell at lot of “exclusives” to create buzz around their products. As long they are hit TV shows and movies like the upcoming Star Wars movies and superhero movies like Justice League, Funko looks to have steady growth in their near future.
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