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Hello reader,
I love watching blind-box unboxing videos on TikTok. For the uninitiated, a blind box is a small, sealed package that contains a host of random collectible figurines and items. You never know what you’re going to get exactly, and the anticipation and excitement is part of its appeal.
While I do like watching these videos and seeing people’s reactions to what they get, I’ve not bought a blind box myself. The only ‘blind box’ collectible I own right now came to me as a Christmas gift from my colleague Christine – a Bitty Pop (a tiny version of the famous Funko Pop collectible series) of the iconic superhero Batman.
But there are many folks out there who love blind boxes, shelling out hundreds – if not thousands – to complete their collections.
And blind boxes are just one aspect of the wider world of collectibles, which include figurines, cards, and other exciting products that appeal to fans.
Today’s premium story features a collectibles creator that just bagged a series A extension round. There’s a lot of value in making things that people love, it seems.
Today we look at:
- Mighty Jaxx’s US$11 million series A+ raise
- Google’s investment into ecommerce firm Flipkart
- Other newsy highlights such as an early ByteDance investor’s plans for an AI-focused fund and SpaceX’s potential stock sale
Premium summary
How many collectibles could I buy for US$11 million?
Image credit: Timmy Loen
Singapore-based Mighty Jaxx – which creates limited-edition collectibles in partnership with well-known companies such as Nickelodeon, Warner Brothers, and Netflix – has raised US$11 million via an extension of its series A+ fundraise.
- Revenue rising: The design studio says it has seen a sales uptick in the US, and its revenue booked for the first quarter of 2024 marked a 5.5x jump from the same period last year. The company expects to achieve EBITDA profitability by Q4 2024.
- Scaling up: A key market for Mighty Jaxx is North America, where the company is “starting to ramp up slowly” for its mass-market products. It plans to scale up its business in the US and Europe this year, tapping into the fresh funds to support this growth.
- Asia calling: Mighty Jaxx has expanded its retail partnerships recently, going from 2,500 last year to over 15,000 in 2024. The firm is also strengthening its presence in Southeast Asia, particularly in Thailand and Indonesia, with plans to open its first flagship store in Bangkok by the end of the year.
Read more: Mighty Jaxx collects $11m more in series A+ round to fuel US, Europe growth
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