The childhood friends who created Hatchimals, last year's hottest toy, are now billionaires
Emma Fierberg
Ronnen Harary and Anton Rabie, the childhood friends who founded Spin Master and still each own about 30% of the company, are now in the exclusive billionaire's club, according to Bloomberg's calculus.
The company, which was founded in Toronto in 1994, got a 56% stock boost this year after the release of their hit toy, the Hatchimals.
That makes both Harary and Rabie worth about $1.4 billion.
Hatchimals have been nothing short of a sensation for the brand, which has become one of the fastest-growing in the toy business. Hatchimals were one of the hardest-to-find toys of the 2016 holiday season, and they were widely considered the "it" toy every kid wanted.
In 2016, Spin Master had $1.2 billion in sales amid a toy market that has seen giants like Mattel and Lego miss sales expectations in the last year.
- Tata Motors Q4 consolidated net profit jumps over 3-fold at ₹17,528.59 crore
- Gold, silver prices rebound on bullish global trend, strong domestic demand
- 27 emails, 10 banks accounts: Mystery of missing Taarak Mehta actor Sodhi deepens
- Sensex, Nifty rebound as Reliance, ITC gain
- IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market