ForeverSpin

ForeverSpin
Private
Industry Toy
Founded February 2014 (2014-02)[1]
Founder
  • Ruben Gonzalez
  • Viktor Grabovskyy
  • Cristobal Uribe[2]
Headquarters 1 Dundas Street West (#2500), Toronto, Ontario M5G 1Z3, Canada
Area served
 International
Key people
  • Ruben Gonzalez
  • Viktor Grabovskyy
  • Cristobal Uribe
Products Tops and accessories
Website foreverspin.com

ForeverSpin (stylized as foreverspin) is a Canadian independent manufacturer founded in February 2014 by Ruben Gonzalez, Viktor Grabovskyy, and Cristobal Uribe, headquartered in Toronto, Ontario. It manufactures and sells tops that are CNC-machined to a metal finish. They have funded the tops through a series of three financially successful Kickstarter campaigns,[3] along with additional funding through Indiegogo.[4]

As of June 2016, they have received over $1.5 million in sales[3] and have sold their tops to over 70 countries.

History

Founding and early years

In 2013, Viktor Grabovskyy, along with fellow partners Ruben Gonzalez and Cristobal Uribe, agreed to start an analytics company. But, as they didn't have the money, they thought of selling a top as a more modern piece of nostalgia. They co-founded ForeverSpin together in February 2014.[3]

First and second Kickstarter campaign

Having experience from a test campaign from Kickstarter,[3] they officially started their first Kickstarter on February 2014, and received over $130,447, $1,500 from each of 1,899 backers.[5] On Indiegogo, they additionally raised $14,681 from 244 additional backers.[6] The spinning tops were made available from April 2014. An additional Indiegogo campaign was launched for release in June, with $3,681 raised over a $600 goal from 93 additional backers.[7]

Along with other Canadian independent projects, ForeverSpin garnered attention for being one of the most financially successful campaigns in Canada.[8]

Later, in October 2014, the company announced ForeverSpin 2.0, an updated version of the top with more metal finishes, and a more refined design and balance. They created a second Kickstarter campaign, which also proved more financially successful than the first, earning $402,640 over a $5,000 goal from 3,831 backers.[9] An Indiegogo campaign was created again to provide additional funding, which also was more financially successful, gathering $21,995 out of a $1,500 goal from 260 backers.[10]

Dragons' Den and third Kickstarter campaign

In December 2015, co-founder Viktor Grabovskyy appeared for ForeverSpin on Dragons' Den, successfully acquiring $300,000 in an investment deal.[3] Soon after, the group released their third and most financially successful Kickstarter campaign, acquiring $736,320 out of a $10,000 goal from 4,870 backers.[11] An additional Indiegogo campaign also raised $630,458, marking it as their most financially successful Indiegogo campaign as well.[12]

Products

Top

The ForeverSpin top is the only and exclusive toy manufactured by the company. It is available in 15 different finishes, and can be ordered in a bundled collection.

The tops are mass-produced on CNC-machines by the company at its headquarters. The company says they go through inspection. If passed, they are put in a cardboard box with a serial number and then shipped to customers. Overall, from sideways, a top is 1.125in wide. In spite of the claims on the site, the tops are not themselves branded or marked.

The company claims some of them can spin upside-down from their spindle as well, like some other tops.

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 diamond-like carbon, and is minimized in terms of friction for longer spins.

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. 1 2 3 4 5 "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. ↑ "ForeverSpin Spinning Tops by ForeverSpin.com". Kickstarter. 13 February 2014. Retrieved 19 June 2016.
  6. ↑ A., Chris. "ForeverSpin Spinning Tops". Indiegogo. Retrieved 19 June 2016.
  7. ↑ A., Chris. "ForeverSpin Spinning Tops". Indiegogo. Retrieved 19 June 2016.
  8. ↑ "'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.
  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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