Funko News Room Funko Announces Headquarters Expansion
Funko Announces Headquarters Expansion
Company to Create Pop-Culture Hub in Downtown Everett, WA to Support Continued Growth
New Space to Feature Flagship Retail Store
Everett, WA, December 12, 2016 – Funko, one of the leading creators and innovators of licensed pop culture products, announced today that it has signed a 10-year lease for an 90,000 square foot office space located at 2802 Wetmore Avenue in Everett, WA. The Company, which has always been located north of Seattle and has been headquartered in Everett for 3 years at 1202 Shuksan Way, will relocate its corporate offices in 2017.
The Company signed a long-term lease for the iconic Port Gardner Building which was most recently home to Trinity Lutheran College and will remodel the 90,000 square foot space, transforming the downtown Everett building into a space that will reflect the personality of the Funko brand. The space will ultimately accommodate approximately 300 employees in its expanding art, marketing, sales, finance, information technology, human resources, operations and legal departments and will feature a 17,000 square foot flagship store for visitors to shop the expansive collection of licensed products, including Funko Pop! Vinyls, Dorbz, Plush and more. The flagship store will be an interactive opportunity for visitors to dive in and experience the heart of Funko’s fandom.
“As we continue to grow our business and expand in existing and new product categories, we needed an office setting that not only supports our future growth but creates a unique and fun atmosphere that inspires both our dedicated team members and loyal Funko fans,” said Brian Mariotti, President and CEO of Funko. “We are excited to return to downtown Everett where Funko was founded 19 years ago and create a space that reflects the innovative and stylized Funko brand that is driven by our team of artists, sculptors, and production staff who live and breathe the pop culture lifestyle.”
Mariotti continued, “Over the last 5 years we have seen a surge of new content driving consumer demand and growth in our business. With the recent additions to our Board and executive team coupled with this move to a larger headquarters that is in line with our brand vision, we believe we have the right team and resources in place to continue to lead the market and drive our business forward.”
The new Funko headquarters will also serve to showcase the unique phenomenon that has garnered the impressively loyal following the Company has today. The Company intends to create a pop-culture hub in Everett for Funko fans, hosting events to celebrate in conjunction with major pop culture events in the area.
"We are thrilled that Funko has chosen to remain headquartered in Everett and we look forward to watching their continued growth," said Mayor Ray Stephanson. "The City of Everett has excellent partners who care about enriching and improving our community and we look forward to continuing our relationship with the Funko team.”
Headquartered in Everett, WA, Funko is one of the leading creators and innovators of licensed pop culture products to a diverse range of connected consumers. Funko designs, sources and distributes high-velocity collectible products across multiple categories including vinyl figures, action toys, plush, apparel, housewares and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. In 2015, Funko received a majority investment from ACON Investments, L.L.C, a diversified international private equity firm. As a leader in the large and growing $15 billion global licensed pop culture products market, Funko currently holds one of the largest portfolio of licenses and the rights to create tens of thousands of characters. Funko’s Pop! Vinyl is one of the most popular stylized vinyl collectibles on the market, selling millions of figures to collectors around the world. Learn more at https://funko.com/, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko).
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON has responsibility for managing approximately $4.8 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, São Paulo and Bogotá. For more information, visit www.aconinvestments.com.
Jessica Liddell/Julia Young, ICR