

Pop Mart: The History & Economics | Max Levchin, Jim Belosic
25 snips Aug 29, 2025
Max Levchin, the Ukrainian-American tech pioneer who co-founded PayPal and later launched Affirm, shares valuable insights on the evolving landscape of consumer lending, reflecting on a 43% growth at Affirm. Jim Belosic, CEO of SendCutSend, discusses how he's scaled a rapid manufacturing company to 350 employees without venture capital, merging software with manufacturing. They dive into the impact of social media on collectibles, the economics behind Pop Mart's mystery boxes, and the changing dynamics in the toy industry, driven by innovative marketing and consumer behavior.
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Why Pop Mart Blew Up
- Pop Mart scaled by combining exclusive artist IP with blind-box mechanics and vending distribution.
- Viral social-media unboxing fits short-form algorithmic feeds and drives rapid international growth.
IPO And Global Push Fueled Scale
- Pop Mart's market cap and revenue exploded after going public and aggressively expanding retail and vending footprints.
- International expansion became a major growth engine, quickly surpassing prior domestic scale.
Designer Toys Become Global Pop Culture
- Pop Mart's Labubu drops sell out instantly and gained celebrity and global attention.
- That cultural reach turned designer toys into a mainstream, algorithm-fueled consumer phenomenon.