Casper Preps for IPO
Casper Is Said to Work With Morgan Stanley, Goldman on IPOBy
Mattress retailer could exceed $1.1 billion private valuation
IPO proceeds to help fund expansion, including storefronts
The New York-based company could go public as soon as this year or the first half of 2020, said the people, who asked not to be identified because the information is private.
Casper, which sells and delivers mattresses directly to consumers, reached a $1.1 billion valuation this year in its most recent private funding round. Target Corp., New Enterprise Associates and Dani Reiss, the chief executive officer of Canada Goose Holdings Inc., are among its investors.
The company could attain a higher valuation in an IPO, one of the people said.
Representatives for Casper, Morgan Stanley and Goldman Sachs declined to comment.
Casper, which has expanded its products to include bedding, pillows and bed frames, operates in the U.S., Canada, the U.K., Germany, Switzerland and Austria. CEO Philip Krim said in March that the company’s next big international market would be Asia.
The company also plans to open hundreds of physical stores. Part of its motive for going public is to raise capital for that expansion, one of the people said.
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