Casper, Mattress Maker, Raises $170 Million and Plans I.P.O.
Mr. Krim said that the growing competition had not dented sales,
but instead reflected the growing power of e-commerce in what analysts at IBISWorld have reckoned is a $14 billion a year industry.
And newer brands like Casper or the men’s razor maker Harry’s — born online
and reliant in large part on word of mouth and social media marketing — have prospered by forgoing the expensive task of building out real-world stores, instead striking partnerships with traditional sellers when the time is right.
Mr. Krim and his co-founders argued that the traditional way of buying mattresses — going to
a retailer like Sleep Train, for example — was hugely uncomfortable and very expensive.
Instead, Target is now leading a new investment in Casper — as the mattress maker aims for an initial public offering down the road.
