The Chernin Group (TCG) has just announced a $263 million USD strategic investment in Funko through a secondary offering — a 25% stake in Funko. The investor consortium sees names like eBay, former Disney chairman Robert A. Iger, and Klutch Sports’ Rich Paul.
This move was a response to the overall demand from Funko fans where the company experienced a 63% YOY growth to $308.3 million USD with a net income increase of 31% YOY to $14.5 million USD. Jesse Jacobs, co-founder and partner at The Chernin Group will serve on Funko’s Board of Directors with Iger and Peter Chernin serving as advisors.
In other toy news, BAPE and BAIT shrink 25th-anniversary artist sculptures for 8-inch Baby Milo collection.
Source: Read Full Article