ForeverSpin

ForeverSpin (stylized as foreverspin) is a Canadian manufacturer of metal toy tops. The company funded the initial manufacture of its tops through crowdfunding campaigns.[3][4]

ForeverSpin
Private
IndustryToy
FoundedFebruary 2014 (2014-02)[1]
Founder
  • Ruben Gonzalez
  • Viktor Grabovskyy
  • Cristobal Uribe[2]
Headquarters1 Dundas Street West (#2500),
Toronto, Ontario M5G 1Z3
,
Canada
Area served
International
Key people
  • Ruben Gonzalez
  • Viktor Grabovskyy
  • Cristobal Uribe
ProductsTops and accessories
Websiteforeverspin.com

History

Founding and early years

In 2013, Viktor Grabovskyy, Ruben Gonzalez, and Cristobal Uribe planned to start an analytics company, but as they didn't have the funding to do so, they decided instead to market a top as a modern piece of nostalgia. They co-founded ForeverSpin together in February 2014.[3]

As of June 2016, the company had received over $1.5 million in sales[3] and had sold their tops in more than 70 countries.

Products

Top

The ForeverSpin top is the only toy manufactured by the company. The tops are available in 20 different metals and finishes.

The first spinning tops were introduced in April 2014. Later, in October 2014, the company announced ForeverSpin 2.0, an updated version of the top available in a wider variety of metal finishes and with a more refined design and improved balance.

Each top is 2.86 cm (1.125 in) wide. Weight varies by metallic composition. Metals used in the manufacture of the tops include titanium, Damascus steel, gold plated, cast iron, copper, bronze, zirconium and brass.

ForeverDock

The ForeverDock is a display stand for ForeverSpin tops, and can fit up to 5 tops on one dock.

ForeverBase

The ForeverBase is a surface base for the ForeverSpin top. It is made out of glass with a stainless steel rim, and is slightly concave.

Crowdfunding

ForeverSpin has been underwritten by a series of crowdfunding campaigns. In 2014 it was said to be one of the most financially successful of such campaigns in Canada.[5]

First Kickstarter campaign

The first Kickstarter campaign was launched in February 2014, and received over $130,447 from 1,899 backers, 87 times more than the $1,500 original goal of the campaign.[6]

First Indiegogo campaign

On Indiegogo $14,681 was raised from 244 backers.[7]

Second Indiegogo campaign

A second Indiegogo campaign was launched, with $3,681 raised over a $600 goal from 93 additional backers.[8]

Second kickstarter campaign

A second Kickstarter campaign raised $402,640 over a $5,000 goal from 3,831 backers.[9]

Third Indiegogo campaign

A third Indiegogo campaign raised $21,995 from 260 backers out of an initial $1,500 goal.[10]

Dragons' Den appearance

In December 2015, co-founder Viktor Grabovskyy appeared for ForeverSpin on Dragons' Den and received $300,000 in an investment deal.[3]

Third Kickstarter campaign

Soon after the Dragon's Den deal, a third Kickstarter campaign raised $736,320 out of a $10,000 goal from 4,870 backers.[11]

Fourth Indiegogo campaign

An additional Indiegogo campaign raised $630,458.[12]

References
  1. "ForeverSpin". Facebook. Retrieved 19 June 2016.
  2. Bitti, Mary Teresa (19 November 2015). "Is crowdfunding better than a Dragons' Den deal? Why ForeverSpin's deal fell through - Financial Post". Financial Post. Retrieved 19 June 2016.
  3. "Canadian Startup on Fire with Success of Their Third Campaign After a Stellar Performance in the Dragons' Den - Dec 17, 2015 - ReleaseWire". ReleaseWire. 17 December 2015. Retrieved 19 June 2016.
  4. Chris, A. "ForeverSpin World Famous Spinning Tops - Indiegogo". Indiegogo. Retrieved 19 June 2016.
  5. "'World's oldest toy' exceeds crowdfunding goal by nearly 8,700 per cent - The Globe and Mail". The Globe and Mail. 3 April 2014. Retrieved 19 June 2016.
  6. "ForeverSpin Spinning Tops by ForeverSpin.com". Kickstarter. 13 February 2014. Retrieved 19 June 2016.
  7. A., Chris. "ForeverSpin Spinning Tops". Indiegogo. Retrieved 19 June 2016.
  8. A., Chris. "ForeverSpin Spinning Tops". Indiegogo. Retrieved 19 June 2016.
  9. "ForeverSpin 2.0- Spinning Top, Precise, Durable, and Elegant by ForeverSpin.com - Kickstarter". Kickstarter. 29 October 2014. Retrieved 19 June 2016.
  10. A., Chris. "ForeverSpin 2.0 - Precise, Durable & Elegant". Indiegogo. Retrieved 19 June 2016.
  11. "ForeverSpin - World Famous Tops by ForeverSpin.com - Kickstarter". Kickstarter. 15 December 2015. Retrieved 19 June 2016.
  12. A., Chris. "ForeverSpin World Famous Spinning Tops". Indiegogo. Retrieved 19 June 2016.
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