Funko, Inc (Nasdaq: FNKO) has announced a significant update to the Funko app: the integration of new collection valuation capabilities, based on eBay transaction data. The update enables the Funko community to price their Funko Collections with increased accuracy, by seamlessly connecting the Funko catalog with recent, verified sales data from the eBay marketplace.
Since announcing a commercial agreement in 2022, under which eBay became the preferred secondary marketplace for Funko, the companies have created unique and meaningful experiences for the collecting community, including a “List it on eBay button” in the Funko app, and access to exclusive product drops via Funko’s storefront on eBay. This latest app update represents the continued collaboration by the two companies to deliver best-in-class experiences for the Funko community and collectors at large.
Funko’s direct-to-consumer (DTC) catalog app will be updated and refreshed during the fourth quarter of 2023. Collection valuations will be based on the average, recent sales price of each item on eBay. The Funko app has over one million active users and over 100 million wishlisted items.
“With over a million Funko collectors using the Funko app to manage their collections, providing informed valuation metrics for the fans is a top priority,” said Johanna Gepford, Funko’s SVP, Revenue. “eBay is our preferred partner for secondary marketplace sales, and we’re thrilled to provide Funko collectors with frictionless access to real marketplace data, so they can better understand the value of their collections.”
“As a top destination for collectibles connecting millions of sellers and buyers around the world, we’re always looking for new ways to deliver an amazing customer experience and help enthusiasts make informed decisions,” said Gene Cook, Global VP of Collectibles, eBay. “In 2022 ‘Funko’ was searched about 13,000 times per hour on eBay globally, reinforcing the popularity and high collectability of these items. We’re excited to work alongside Funko to bring more innovation and exciting new features to the collecting community.”