A few years ago, most people wouldn’t have guessed that plush toys would help build one of the fastest-growing tech companies out of Waterloo Region.
Makeship started in 2018 with just a few employees working out of Kitchener. It began with the idea to help online content creators bring their characters to life as high-quality, limited-edition products through crowdfunding campaigns. Makeship has now grown to more than 65 employees across Canada and internationally. Its headquarters are now in Vancouver, but its roots are in Waterloo Region’s tech ecosystem.
“Our founders started this business in 2018 with a mere $8,000 and in 2024, we were able to do eight figures of profit,” said Landon Brett, Chief Operating Officer at Makeship. “It’s incredible how fast we have grown. The fact that we’ve done it without any debt nor funding, is an extraordinary feat.”
Founded by Rakan Al-Shawaf and Wang (Kevin) Tao, Makeship began by focusing on creators with small but loyal followings in gaming, animation and similar communities. These creators oftentimes could not produce merchandise on their own. Makeship helped fill that gap by handling the design, manufacturing, logistics, marketing and customer service.
“We’ve worked with influencers with as low as 50,000 subscribers that can sell over $100,000 in merchandise annually,” said Brett. “They have an engaging and loyal audience that are highly invested in their content.”
Makeship’s early decision to focus on plush toys was a big part of its success. At the time, it was an uncommon product in the creator space. It also allowed Makeship to offer something physical and meaningful to fans in the form of a custom item that reflected their connection to the creator.
“Watching content and supporting one’s favourite creators through donations are great,” Brett said. “But having a physical product that they can always come back to and look at or hold is extremely special.”
The crowdfunding model was central to the company’s growth. If enough fans pre-ordered a product during a limited-time campaign, the product would be made and shipped. If not, all purchases were refunded. That approach allowed Makeship to scale without financial risk and with no need for external funding.
To date, Brett said the company has paid out more than $20 million U.S. to creators. Some of its most successful campaigns have reached over $2 million in sales. As Makeship has grown, both the number and size of creators it collaborates with have also increased. The company is now expanding into new product lines like apparel to satisfy their creators’ desires.
But growing quickly brought new challenges.
“As a startup, sometimes you need to be agile and respond to internal and external pressures around you. In November of last year, we created a new service offering and began pitching our clients and trying to promise them things that for some, we hadn’t yet built,” Brett said. “Creators had to rely on the trust that we’ve built over the past several years and that is a true testament to the partnership we’ve cultivated with these individuals and brands.”
In response, Makeship expanded its services to top creators by offering custom storefronts, analytics, marketing support and early access to new product types like apparel. The company is still focused on creators with strong communities, whether large or small. Its goal is to help those creators offer high-quality merchandise in the same way large corporations do.
“At the end of the day, creators are conduits for their fans,” said Brett. “They really want a partner they can trust.”
Although Makeship now operates on a global scale, the company attributes much of its early growth to its roots in Waterloo Region. Brett highlighted the influence of local tech hubs like Communitech and Velocity, where the company made early connections and received support.
“Just having the resources with certain individuals within the community over the past couple of years has been super helpful,” he said. “It continues to both surprise and excite me as to the sheer presence of tech and entrepreneurs and founders in this city.”
Makeship is also part of Team True North, which spotlights Canada’s top-performing tech companies with the highest potential to achieve $1 billion in annual revenue and global impact, based on data and growth rates.
Looking ahead, Makeship is aiming high. The company’s goal is to reach $100 million in annual revenue within the next three years.
“It’s not a matter of if we’re going to get to $100 million,” Brett said. “It’s more a matter of when.”
