Type Subsidiary Owner GameStop Number of locations 25 Parent organization Geeknet, Inc. | Industry Retail Website Official website Founded 1999 | |
Headquarters Fairfax, Virginia, United States Profiles | ||
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ThinkGeek is an American retailer that caters to computer enthusiasts and "geek culture". Described as a "Sharper Image for sysadmins", their merchandise, has also been likened to "toys for adults, novelties designed to appeal to both your inner child and your inner grad student." These include clothing, electronic and scientific gadgets, unusual computer peripherals, office toys, pet toys, child toys, and caffeinated drinks and candy. ThinkGeek was founded in 1999, is based in Fairfax, Virginia, and is owned by Geeknet, a unit of GameStop.
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History
ThinkGeek was founded in 1999, and originally based in downtown McLean, Virginia. The company was founded by Jen Frazier, Jon Sime, Scott Smith, and Willie Vadnais, all of whom were running a small Internet startup (ISP) at the time, with ThinkGeek initially starting as a side project. The website's official launch date was August 13, 1999. Andover.net, a Boston area technology news publisher, acquired ThinkGeek in October 1999. Only a few months later Andover.net was acquired by VA Linux, a California-based tech company that specialized in Linux hardware and software products. VA Linux, after several name changes, became Geeknet, the current parent company of ThinkGeek.
In August 2000, the company moved its offices to Fairfax, Virginia where it has been based ever since. ThinkGeek grew steadily and increased the number of employees from six in 2004 up to 83 in 2013. Company revenues also increased during this time period, reaching $118.9 million in 2012.
ThinkGeek is currently ranked as one of the top online retailers, listing as #175 on the Internet Retailer Top 500 List. The company made $50 million in sales in 2009.
ThinkGeek's mascot is a monkey named Timmy.
On May 26, 2015, it was announced that pop culture-oriented retailer Hot Topic had made an offer to acquire Geeknet and ThinkGeek for $17.50 per-share, valuing the company at $122 million. However, on May 29, 2015, it was revealed that an unspecified company had made a counter-offer of $20 per-share; Hot Topic was given until June 1, 2015 to exceed this new offer. On June 2, 2015, it was announced that video game retail chain GameStop had acquired Geeknet for $140 million. The deal was completed on July 17, 2015.
On September 25, 2015, ThinkGeek opened its first retail store at The Florida Mall in Orlando, Florida. In 2016, ThinkGeek opened 25 more brick and mortar stores in the U.S., along with 25 international stores. The retailer is "committed to creating a seamless omnichannel experience for its customers", including store pickups and ship-to-store options.
Products
ThinkGeek runs a points-for-reward system called Geek Points, under which customers can earn rewards for buying more products.
On April 1 every year, the company posts a fake homepage with absurd fictional products. For example, in 2007 it advertised "Surge Stix", cigarette-like high potency caffeine delivery systems that, when snapped like a glow stick, supposedly deliver as much caffeine as five cans of Coca-Cola. Some of the April Fool's Day products have been so popular with users that they have been made into actual products, such as the 8-Bit Tie, the Personal Soundtrack T-shirt, the Tauntaun sleeping bag and the iCade.
Most of ThinkGeek's merchandise is licensed from various science fiction and fantasy media franchises such as Star Wars, Star Trek, Firefly, Marvel Comics, Doctor Who, Minecraft, and The Big Bang Theory. Other products offered by the company include classic pop cultural icons like the Magic 8-Ball, or products inspired by science, such as a Schrödinger's Cat Executive Decision Maker.