Funko was founded in 1998 by toy collector Mike Becker at his home in Snohomish, Washington. He started the business after failing to find an affordable coin bank of the Big Boy Restaurants mascot, instead licensing the rights to make his own coin banks from a Big Boy franchise in Michigan. The coin banks failed to sell and the franchise filed for bankruptcy protection, but Funko remained in business after licensing the rights to bobbleheads for Austin Powers, which sold 80,000 units. After this, some of the first characters that Funko sold were the Grinch, Tony the Tiger, and Cheerios mascot, the honeybee. In 2005, Becker sold Funko to its current CEO, Brian Mariotti, who moved its offices to Lynnwood, Washington, and significantly expanded the company’s licensed product lines. In 2011, Funko began selling their Pop! Vinyl line of figurines. By 2012, the company had sold more than $20 million worth of merchandise.