Michaels, which owns several private brands such as Recollections, Artists Loft, and Loops Threads, competes with Hooby Lobby Stores, Jo-Ann Stores, and Wal-Mart Stores.While retailers sell 95 of its inventory, the company's idea machine is starting to churn out far more stuff than the pipeline can handle.

More On Forbes: Gallery: Midas List 2013: The Top 10 10 images, view gallery newsincvid id"24854554"."The kids don't care about how much our insurance costs he declares to laughter, "nor should they!".Last year Quirky launched 121 new products, selling.3 million units through retailers like.

) Kaufman does seem a whiz at packaging: Each product carries the Quirky logo, as well as a photo and bio of the inventor.Once a product is out of the chute, Quirky sells it to retail partners at wholesale.Venture capitalists love the model.