Funko, less than a year after acquiring high-end collectibles brand Mondo, has let go several employees — including Mondo co-founders Mitch Putnam and Rob Jones.
Mondo, based in Austin, Texas, was founded in 2004 and was previously a subsidiary of indie theater chain Alamo Drafthouse before Funko inked a deal to buy it last year for $14 million. Mondo had gained a strong following for its limited-edition screen-printed movie posters. Notable artists who worked with Mondo have included Olly Moss, Shepard Fairey, Ken Taylor and Kevin Tong. Sources said that Mondo’s vinyl records and collectibles businesses are intact.
In addition to Putnam and Jones, Mondo senior creative director Eric Garza also has been laid off. Funko has confirmed that Mondo will continue producing posters going forward.
Mondo had about 30 full-time employees when Funko acquired the company. Per Funko regulatory filings, it paid $14 million in cash for Mondo.