Funko Pops Mondo's Dreams, Lays Off Co-Founders And Staff Of Poster Maker
Image Source: Mondo
Funko has downsized the movie poster section of Mondo, a company that they acquired only a year prior. Among the layoffs were co-founders Mitch Putnam and Rob Jones and senior creative director Eric Garza. This puts the department at a minimized functional capacity, though it is reported that poster production will continue. It is also reported that the vinyl and collectibles sections are still functional.
Mondo was founded in 2004, garnering a following for their screen prints of movie posters. They also sold other collectibles, including vinyl records, games, and books, among other items. Prior to the acquisition, the company was owned by Alamo Drafthouse, a small theater chain founded in Austin, Texas. Funko acquired the brand for $14 million.
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Image Source: Logopedia
The acquisition originally occurred in mid-2022. Andrew Perlmutter, at the time CEO and the current president of the company, said regarding the acquisition, “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.”
Time will tell with the direction of Mondo’s product under this new business decision. How it reflects the company’s previous position will be something to watch.
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