Casper were the OG direct-to-consumer boxed mattress (kinda like Koala here in Oz).
Background: Casper Sleep are an e-commerce mattress company that launched back in 2014. They were the OG direct-to-consumer boxed mattress (kinda like Koala here in Oz).
What happened: This crew were young guns. They raised tens of millions from celebs like Tobey Macguire, Leo DiCaprio, Adam Levine...And by 2019, they were valued at US$1.1 billion.
What else: In 2020, Casper went public at a valuation of around half their initial US$1.1 billion...and it was all downhill from there. Now, they've revealed they're going private via a sale to investment company Durational.
💡We often hear about private companies going public...but it's not as common to hear about public companies going private.
💡Generally, public-to-private acquisition is initiated by a private investment company, who see an opportunity that may not be realised on the public markets.
💡Once private, companies don't need to comply with stock exchange rules, which means management have a lot of free time to concentrate on running and growing a business again. So maybe Casper going private might breathe some life back into them.
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