Funko was founded in 1998 by Mike Becker at his home in Snohomish, Washington. He started the business after looking for a collectible coin bank shaped after Bob's Boy Mascot. Selling the coin banks became a failure, so Becker licensed the Austin Powers movie and sold more than 80,000 toys. 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.