Online mattress startup Casper saw its stock surge 25% after its IPO today, despite a low price and valuation by skleb1234
an IPO price range of $17 to $19, which would have given the company a valuation of around $760 million.implied by its latest round of private funding back in March 2019.
At least two dozen early investors in the company—including retailer Target, actor Leonardo DiCaprio and VC firm Lerer Hippeau, could allPitching itself as an emerging-growth company, Casper is banking on profiting from being a self-described “pioneer of the sleep economy,” which it estimates to be worth $432 billion globally and $80 billion in the U.S. In its filings, however, Casper revealed that it is yet to turn a profit—and likely won’t be able to do so anytime soon.
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