Topps Looks For $1.3 Billion IPO Score As Card Sales Soar

SMS
Topps Looks For $1.3 Billion IPO Score As Card Sales Soar
Former Disney CEO Michael Eisner is planning to make Topps a publicly traded company in a deal worth $1.3 billion.
SHOW TRANSCRIPT

Former Disney CEO Michael Eisner is trading cartoons for trading cards. He bought Topps in 2007 for $385 million in 2007. Part of the reason for its sky-high valuation of $1.3 billion? 

A planned push into digitally traded cards.

"Perception is reality," said Jeremy Born, co-founder of NFT Genius. "I’m looking at my card and I can hide a clue in it, there’s a treasure hunt. You dive into it via AR, in VR you can dive into the whole world and a new experience... From an experience standpoint, you get 100% more than a physical card."

Business is booming for physical cards, too. 

At Burbank Sportscards in Los Angeles it has never been busier. And tops on the list of buyers: Topps cards. Burbank Sportscards has a stock of 42 million cards and ships them across the country.

The IPO is planned for later this year.