🔔🔔 Emmet O’Neill reveals how StoryToys nearly collapsed after years of venture capital funding, how he cut the business from 45 people to 15, and how that turnaround ultimately led to a €35 million children’s media company with more than 300 million app downloads 🔔🔔
Emmet O’Neill joins Business Builders to share the remarkable story behind StoryToys, one of Ireland’s most successful digital media companies and the creator of educational children’s apps based on brands including Disney, Lego, Marvel, Pixar, Star Wars, Bluey, The Very Hungry Caterpillar, and more.
Starting his career as an illustrator before moving into digital media, Emmet spotted the opportunity created by the arrival of the iPad and helped pioneer a new category of interactive storytelling for children.
But the journey was anything but straightforward.
After raising significant venture capital and scaling rapidly, StoryToys found itself growing too fast in too many directions. Burn rates soared, the business came close to collapse, and difficult decisions had to be made. Emmet shares the painful reality of cutting the team from 45 people to 15, taking over leadership during the company’s darkest period, and rebuilding the business around profitability rather than fundraising.
What followed was a remarkable turnaround.
By refocusing on high-quality licensed content for preschool children, securing partnerships with brands such as Lego and Disney, and maintaining a relentless focus on product quality, StoryToys transformed from a struggling startup into a highly profitable global business generating €35 million in annual revenue.
Along the way, Emmet reflects on working alongside his brother, the challenges of venture capital, product-market fit, acquisitions, leadership during crisis, creativity in business, licensing major intellectual property, and why he believes great businesses are built by enabling talented people to do their best work.
The conversation also explores the future of children’s media, Netflix’s growing games strategy, AI’s impact on creative industries, autism-friendly product design, and why creating products that genuinely improve children’s lives remains at the heart of StoryToys’ mission.
This is a conversation about creativity, entrepreneurship, leadership, resilience, product-market fit, and building a business that survives long enough to become extraordinary.
🎧 In this episode, you’ll learn 🎧:
• How StoryToys grew from a small Dublin startup into a €35 million business
• Why Emmet believes many startups become addicted to venture capital
• The mistakes that nearly caused StoryToys to collapse
• How cutting the team from 45 people to 15 saved the company
• Why profitability changed everything for the business
• The story behind securing partnerships with Disney, Lego and Netflix
• How StoryToys creates educational alternatives to addictive mobile games
• Why creativity can be a powerful advantage in business leadership
• The lessons Emmet learned working alongside his brother
• How to identify and nurture talent inside an organisation
• Why product-market fit matters more than growth at any cost
• The realities of scaling a venture-backed business
• How StoryToys was acquired and why Emmet stayed on as CEO
• What makes successful acquisitions work after the deal is signed
• The changing economics of children’s media and entertainment
• Why Netflix is becoming an important gaming platform
• How AI is being used inside StoryToys today
• Why Emmet is less worried about AI than he was five years ago
• How StoryToys designs products for autistic children and families
• Why meaningful impact matters more than download numbers
⏱️ Timestamps
00:00 - Cold open
01:00 - What StoryToys does and the children’s app market
04:00 - Educational games versus addictive mobile apps
10:00 - From illustrator to digital entrepreneur
14:00 - Joining StoryToys and working with family
17:00 - Creativity as a business advantage
20:00 - Building products and securing major licences
26:00 - The Very Hungry Caterpillar and children’s storytelling
31:00 - Venture capital, growth and near-collapse
37:00 - Returning to profitability and saving the business
43:00 - Pandemic growth and finding product-market fit
46:00 - Selling the company and lessons from VC funding
50:00 - Acquisition by Team17 and continued growth
56:00 - The future of children’s media and gaming
59:00 - AI, creativity and the future of software
01:04:00 - The challenges facing children’s content creators
01:08:00 - Building products for autistic children
01:15:00 - Creating meaningful impact through technology
Topics covered:
Entrepreneurship, startups, venture capital, StoryToys, children’s media, educational technology, mobile apps, app development, product-market fit, Disney, Lego, Netflix, intellectual property, licensing, acquisitions, leadership, business turnaround, scaling companies, profitability, creative entrepreneurship, digital media, gaming industry, children’s entertainment, AI, artificial intelligence, autism, neurodiversity, company culture, product design, business growth, Irish startups, technology business.