eBay was part of a consortium of investors that acquired a $263 million stake in Funko, and as part of its investment, eBay will become the preferred secondary marketplace for Funko collectibles.
eBay and Funko will also partner on creating exclusive product releases.
Collectors reacted to the news on a Reddit discussion board. One wrote, “I definitely see this as a good thing! Bad for my wallet though!” Some collectors hoped it would reduce the number of fakes on eBay.
eBay’s home page on Sunday afternoon featured a large banner advertising Funko and leading to a landing page featuring Dr. Strange-themed collectibles (“Enter a strange new dimension Shop action figures and more. Ends in 10h 32m.”)
Interestingly a search for “funko” brought back “630,000+ results” on eBay this weekend. The same search on Amazon brought back “over 10,000 results.”
The consortium that took the stake in Funko is led by the Chernin Group, which said it believed the investment would help reinforce Funko’s leadership position in the pop culture collectibles space and advance Funko’s strategic growth initiatives, which include maximizing the core business by doing the following:
- expanding its premium intellectual property (IP) and Pop! aesthetic into new content areas;
- expanding Funko’s pop culture platform through the addition of adjacent physical and digital categories and brands, both organically and through acquisition as appropriate;
- growing its Direct-to-Consumer (DTC) business;
- extending its reach into international markets.
Stefanie Jay, eBay Chief Business and Strategy Officer, was quoted in the press release: “Funko sits at the intersection of pop culture, passion and collectibles, with one of the most engaged communities of enthusiasts. Building on the incredible appetite for Funko products on eBay, we look forward to what our companies can do together. The investment and partnership with Funko will make eBay the preferred resale marketplace for Funko fans around the world and give customers new and exclusive products.”
Wondering about the origins of Funko? Check out this Collectors Corner column from last year.
The press release is available on eBay corporate blog.