Venture Capital: What the IPO Market Needs Now – To Wake Up

The firm plans to list on the NYSE under the ticker CSPR.

Casper Sleep, the online mattress retailer, has filed for its initial public offering. According to an SEC filing, the company has planned an offering at $100 million. Morgan Stanley, Jeffries Financial Group, and Goldman Sachs are leading the share sale.

Primary backers of the unicorn include Canada Goose CEO Dani Reiss and Target Corporation. Its initial investors also included VC firms and angel investors like rappers 50 and Nas, and actors Leonardo DiCaprio and Ashton Kutcher.

Casper Sleep IPO Details

The online mattress company has reported both an uptick in revenue and losses as it struggles against imitators like Purple, Saatva, Leesa. Nonetheless, the firm expects to reach $1.1 billion. The company reported revenue for the first nine months of 2019 at $312 million.

That figure was a 20% jump from the same period in 2018. However, the company saw its losses increase from $64 million in those nine months of 2018 to $67 million during the first nine months of last year.

The company also experienced a minor restructuring in December. It fired roughly 30 people last month, according to Bloomberg.

The firm also listed a series of risks in its S-1 that included the hope that a market called the “sleep economy” will exist in the future. However, the firm admitted that this “sleep economy” may not grow in the manner the firm expects.

“The market for sleep products and services as a distinct retail category continues to evolve,” the firm writes. “It is uncertain whether the demand for our sleep products and services will continue to grow and achieve wide market acceptance.”

The company will list under the ticker “CSPR” on the New York Stock Exchange.

Recent: Private Equity: TPG to Launch Strategic Capital Fund

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix
Shape

Latest Alternative Investment News

Emission-Free Friday: Here are the Latest Funds to Push for Carbon Neutral
January 17, 2020     ESG and Sustainability, Investments, News

Carbon emissions dominated the headlines this week. The European Commission has announced an ambitious plan to shift toward a green economy and make the EU carbon-neutral in the year ahead….

Kirkoswald Asset Management Will Turn New Investors Away in 2020
January 17, 2020     Hedge Funds, News

Kirkoswald Asset Management will stop accepting new investors when the fund hits nearly $2 billion. Reuters reports that the two-year-old fund will close itself to new investors at the end…

FinTech: Fundbox Hires Former Goldman Sachs Investment Banker as CFO
January 17, 2020     FinTech, Venture Capital

Fundbox, the fintech startup that finances SMEs, is planning a potential IPO. Fundbox has appointed Marten Abrahamsen as its CFO effective this January. Abrahamsen was previously a partner at The…

Hedge Funds: The Empire Strikes Back At HKD Short-Sellers and Doomsayers
January 17, 2020     Hedge Funds, News

Such is the power of Kyle Bass, the hedge fund manager who correctly predicted the crisis from US subprime mortgages in 2007. The Hong Kong Monetary Authority deemed it appropriate…