What it does: Sells toys with virtual counterparts Founder: Sebastian Abondano, 24 Website: myfunkyplanet.com Based: Port St. Lucie, Fla. Revenue 2010: $1.3 million Revenue 2011 (projected): $2 million
Sebastian Abondano was fascinated by the success of Webkinz, stuffed toys that came with a corresponding online persona for kids to play with in a virtual world. In 2008, while a junior at Babson College, he started his own line of toys that bridge the physical and digital worlds. My Funky Planet sells remote-controlled cars and helicopters that come with codes to unlock virtual replicas in an online game. Targeted at boys aged 6 to 12, the toys are manufactured in China and sold through U.S. retailers such as Toys R Us, Sears, and Discovery Channel Stores. They retail for from $20 to $120 and come with virtual currency that can be used to soup up the online avatars. Though selling virtual goods is not a big source of revenue right now, Abondano expects it to grow as the user base expands and players can eventually interact with each other in a game world. Abondano says the nine-employee company has raised $400,000 in seed money and has been profitable since its first year.
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