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Exclusive: Online mattress retailer Casper to hire IPO underwriters - sources

By Reuters

Casper Sleep Inc, the U.S. online mattress retailer whose investors include actor Leonardo DiCaprio and rapper 50 Cent, is seeking to hire underwriters for an initial public offering (IPO), according to people familiar with the matterRead full story

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  • We’re not investors in Casper but they deserve all the success and riches coming to them. They make a great product, market it well, have consistently found innovative ways to improve the supply chain, and work well with their customers. This is what every startup should strive to be.

  • The snarkiest line in this story: “Led by its co-founder Philip Krim, Casper made its name by selling one “universally comfortable” type of memory-foam mattress, as opposed to offering different firmness options and designs. It now sells three different types of mattresses.”

    Casper is an interesting NYC consumer startup story. Despite having raised a ton of money and having a pretty high valuation, it never felt like the tech media really deeply scrutinized the company. Other than some stories about

    The snarkiest line in this story: “Led by its co-founder Philip Krim, Casper made its name by selling one “universally comfortable” type of memory-foam mattress, as opposed to offering different firmness options and designs. It now sells three different types of mattresses.”

    Casper is an interesting NYC consumer startup story. Despite having raised a ton of money and having a pretty high valuation, it never felt like the tech media really deeply scrutinized the company. Other than some stories about its sketchy practices with mattress rating sites, I don’t recall anyone really doing a deep dive into the company and the business. How do you sustain growth as a direct-to-consumer brand with a marquee product that people buy once every 8-10 years? Can that really be a public company? Is this ipo about raising money because this is such a capital intensive business?

  • Competitive edge in creating a great product rather than just multiple normal ones allows Casper to be in this position. They recognized there is another way to do one size fits all.

    The question is how does Casper get another advantage by having a permanent store? It's online presence is already dominant. What is the reason for opening a main store? Only time will tell.

  • It’s good to see the IPO market is hot again. The government shutdown delayed many companies that aimed to go public. And congrats to Casper on this milestone. That said, while the IPO May do well on day 1, what about the long term? The success of the company has been based upon its on-line retail approach. But now Casper wants to open 200 locations? That doesn’t sound like the best strategy to me - doesn’t it run counter to everything that started off as? Further, the fate of other mattress companies

    It’s good to see the IPO market is hot again. The government shutdown delayed many companies that aimed to go public. And congrats to Casper on this milestone. That said, while the IPO May do well on day 1, what about the long term? The success of the company has been based upon its on-line retail approach. But now Casper wants to open 200 locations? That doesn’t sound like the best strategy to me - doesn’t it run counter to everything that started off as? Further, the fate of other mattress companies does not bode well for Casper. The one saving grace may be the declining commercial real estate market. Maybe Casper can sign great leases given what’s going on in the commercial market due to AMZN. Will be interesting to see if Casper’s market cap in 3 years in materially higher than $1B or below this bar.

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