The world is constantly seeking the next big thing and, often, investors make it happen. Whilst some products flop, others flourish. Throughout history there have been some ridiculous business ideas that many investors shunned, unable to see how they could possibly see a return on their capital. However, these investors were soon to kick themselves when these brilliant and bonkers ideas took off and made those who had invested very, very rich.
Slinky
Who could have blamed investors for turning down an opportunity to fund a metal spring? In the early 1940s, Navan Engineer Richard James created the Slinky by chance after dropping a tension spring and watching how it reacted with a staircase.
The Slinky was debuted at a small show in Philadelphia, with James taking 400 along to sell. He had sold out in 90 minutes and had investors chomping at the bit. Despite its simplicity, the Slinky went on to make £250 million.
Beekeeper
Google aren’t afraid to get their wallet out and have invested in wind turbines, low-income housing and solar energy. However, everyone was a little confused when bee huts started turning up on the Google HQ campus.
Turns out, Google’s head chef was sick of spending money on honey and thought having some bees nearby for fresh honey on tap would be a sound investment. Along with an official Google beekeeper, this certainly was an unusual move for the global giant.
The Snuggie
The Snuggie was put upon the planet to rival the onesie and it did not disappoint. The blanket with arms, created by Scott Boilen, was an idea that blew up on a global scale. Funny marketing and appearances in YouTube videos and on chat shows in the US made The Snuggie a household must have.
Investors fought tooth and nail when Snuggies were flying off the shelves and 20 million were sold in just 12 months. Having brought in $200 million, those who were lucky enough to invest in The Snuggie must be giving themselves a pat on the back.
Pet Rock
Whilst this may sound ludicrous, 1975 saw Pet Rocks hit the shelves of toy shops around the world. Literally just an actual rock placed on a bed of straw, inventor and formed advertising executive Gary Dahl had investors in the palm of his hand. Despite the initial craze only lasting 6 months, Dahl managed to rake in $15 million for his investors alone.
Yellow smileys
Many years before the emoji arrived in our lives, yellow smiley faces were everywhere. In the early 1970s, brothers Bernard and Murray Spain purchased the legal rights to the iconic yellow smiley face symbol. They added the strapline, ‘have a nice day’, and put it on as many products as possible in the Dollar Express stores they owned.
With t-shirts being sported by celebrities with the smiley face featured it is no surprise that the seemingly nonsensical symbol blew up. Investors who had originally put some cash in for a laugh were soon laughing all the way to the bank. In 2000 the brothers sold their Dollar Express stores, along with the smiley face symbol, for $5000 million.