Since writing about Pet Rock and it’s backstory, I’ve since been obsessed about flash in the pan, or seasonal toys that spark to life, grabs the world’s attention, and then fizzle out faster than you can say “Look, a shooting star!”. So, in a similar vein to Pet Rock, here are 4 million-dollar toys, and their stories.
I’ve included a mix of seasonal sizzle and fizzles, as well as mainstays.
Big Mouth Billy Bass
Big Mouth Billy Bass was invented in 1999 by Joe Pellettieri, and became so popular it was rumoured that it sold $100m worth in just the year 2000. Its popularity didn’t last long though, and by 2002, it was found in discounted bins selling for $5 everywhere.
Still, $100m in revenue in one year is nothing to scoff at.
In fact, it has been featured numerous times in popular culture, sealing its destiny and writing itself into the history books of Mankind.
Fidget Spinner
Did you remember in 2017 when you didn’t turn a street corner without seeing kids (and in some cases, adults), holding up a spinning fidget spinner and looking very smug about it?
The new toy that took the world by storm in 2017 came and went in a season, as you can see from the google search query volume. YouTube was full of spinning tricks and tutorials and challenges, everyone and their dog had 3.
Yes, I have one of these fidget spinners too.
It’s difficult to gauge total sales or revenue of the spinners, since everyone started manufacturing and selling them, but this one guy managed to wipe out his $160,000 of student debt, just by selling the spinners.
Let that sink in again. One guy, one product (fidget spinner), $160,000 of debt cleared.
The economist estimated between 19m and 50m fidget spinners sold in the first half of 2017.
That is crazy.
Fidget Cube
Fidget cube, started by brothers Mark and Matthew McLachlan, became a Kickstarter super success, raising over $6m to become one of Kickstarter’s most successful campaigns.
In fact, it was such a massive success that even before the campaign concluded, cheap knockoffs were already flooding the market. Add to that a production delay by Antsy Labs (the company formed for the Fidget Cube) and you get the usual drama.
Which brings me to this story of a 24 year old opportunistic dude who made $345,000 by bringing the Fidget Cube to market before Antsy Labs did.
Okay, I sense that you’re starting to judge me. Yes, I had one of those too!
Uglydoll
This is a story that will make you go “awwwww”. Back in 2001, college sweethearts David Horvath and Sun-Min Kim were about to be separated, as her student VISA had expired, and she had to return home.
He wrote her a letter, and signed off with a character called “Wage”. Kim brought Wage to life by sewing a doll of Wage, and sent it back to David. He showed it to his friend, who happened to own a toy store, and his friend promptly ordered 20.
They branched out to more specialty gift stores, and now, they have grossed $100m in revenue since its inception, and recently even made a movie.
Coincidentally, I’d bought a toy from Uglydolls even before I knew they were a thing. We’d bought it cos it looked super adorable, and had an equally adorable name, Babo.
Babo now sleeps with #2 daily at his daycare.
FI by Toy?
So, you don’t have to build something lasting to make a shit pile of money. You just need to have something that EVERYONE wants a piece of, even if it lasts only a year.
Get cracking on the next fad, guys!