The LEGO Group has a long history starting in 1932 when it began as a wooden toy company. It introduced the now famous LEGO brick in 1958. Key events included the introduction of minifigures in 1974, LEGOLAND parks in 1968, and a partnership with MIT in 1984. Today it is the third largest toy manufacturer, earns over $23 billion annually, and produces over 45 billion LEGO bricks per year. The company's strategy is to strengthen its core business and leverage digitalization, while securing innovative processes and involving children in product development. It is owned by the Kirk Kristiansen family and aims to provide LEGO play experiences to as many children as possible around the world.