Funko growing by leaps and bounds

Funko, the Everett, Wash.-based pop-culture collectibles company, has been growing rapidly and has its eyes on a potential initial public offering of stock.

Since its founding in 1998 as a nostalgia-tinged bobblehead company, Funko has grown into a $400 million business, annually producing some 100 million vinyl figurines, action figures, bobbleheads and other collectibles. All are made under licenses from some of the biggest names in pop culture, among them Disney, Marvel, Lucasfilm, Warner Bros. and DC Comics.

Along the way, Funko has become a force in the surging pop-culture collectibles market, selling fans stylized, adorable versions of characters from their favorite movies, TV shows, comic books and other entertainment.

It's amplified collectors' enthusiasm by cultivating community, both through in-person gatherings and regular interactions with enthusiasts on online forums and social media.

'Funko identified a trend in pop culture as a whole, and then aggressively went after being a bigger player in that,” said Brian Mariotti, Funko's president and CEO. His office is lined with shelves full of colorful figures, most from his personal collection and familiar to those raised on after-school and Saturday-morning cartoons.

Mariotti says the company expects $425 million in sales this year, up from $274 million last year, $107 million in 2014 and $40 million in 2013. He said the privately owned company is 'highly profitable” but wouldn't be specific.

Funko's products, manufactured primarily in China and Vietnam, are designed in Everett. They're also marketed and shipped from the city, where the company has 380,000 square feet of warehouse space spread among three buildings.

Funko figures are sold at Wal-Mart and Target, specialty stores like GameStop and Hot Topic, online retailers including Amazon.com, and numerous small comic-book shops.

The company's employee count is up from about 175 a year ago to about 300, and it's still hiring.

Since 2010, Funko has expanded its range of products, from its Pop! Vinyl line, which incorporates the large-eyed, square-faced Pop! design on vinyl figures that are about 3.5 inches tall; to the round-faced Dorbz figurines; small circular MyMojis; plush toys; action figures; and more. Prices typically range from $2.99 to $25, with most items around the $10 mark.

Last year, Funko launched a subscription for mystery boxes, for which customers pay $25 every other month to get a box filled with Funko products. Subscribers know the brand (such as Marvel) and theme (Spider-Man or Deadpool, for example) but not the specific items that will come in each box. The company has close to 200,000 subscribers.