Funko buys Mondo to boost geek cred and reduce risk

Have you bought all the Funko Pops you’re likely to need?

Funko has today announced that they’ve bought Mondo.

Mondo is a part of Alamo Drafthouse Founder & Executive Chairman. It differs from its parent in making and selling geek culture rather than offering it via the movie screen. Mondo offers great-looking arty vinyl (records, not models), posters, games, and models. For example, Mondo through Restoration Games made and retails Unmatched.

Funko has also been getting into games, via Funko Games.

Chief Executive Officer Andrew Perlmutter of Funko told press;

Mondo’s devoted fan base and high-end pop culture collectibles make it the perfect complement to Funko’s current portfolio of brands. By leveraging our international distribution and licensing network, we feel well-positioned to expedite the growth of the Mondo brand. It’s an exciting opportunity to couple Mondo’s already stellar product assortment and aesthetic with Funko’s massive property library.”

Mondo’s had it rough during the pandemic, as you can imagine for any child of a cinema chain. The chain entered and left bankruptcy.

Tim League, Alamo Drafthouse Founder & Executive Chairman, who is also co-Founder at Mondo, told press;

Over the past few months, we searched exhaustively to find a perfect partner who saw what was unique and special about Mondo and was in a position to meaningfully invest in Mondo, nurture the team, and further its reach and vision,”

“Funko is exactly that unicorn.”

We don’t know the terms of the deal but whereas Geek Native asks “Do you need another Pop?” the press release notes “diversifying the revenue base”.

It’s expected the new company will push further into direct-to-consumer, a move that helps margins by cutting out the middle man, but also pushing further into international markets.