Tuesday, January 28, 2020

Casper IPO valuation comes in well below initial $1.1B

Retail Dive
While Casper has been praised as a player leading the mattress disruption, the direct-to-consumer darling revealed in its initial public offering that the road to going public isn't paved without a couple of bumps in the road.

Casper has yet to achieve profitability. In 2018, the company reported a net loss of $92.1 million, while its sales and marketing expense reached $126.2 million.

After partnering with traditional retailers like Target, Nordstrom and West Elm to enter brick and mortar, Casper in 2018 announced plans to open roughly 200 stores across North America. . . . more