Revealed: Mattress company Casper sees huge jump in revenue
Casper, the mattress maker known for its direct-to-consumer sales, saw net revenue increase 60% year-over-year in the third quarter of last year, according to a report in The Information.
The company didn’t immediately respond to an inquiry from Fast Company.
According to the report, it saw net revenue of $105.3 million in the third quarter and projected 2018 net revenue of $373 million, which would be a 49% increase over the prior year. It has yet to make a profit, according to the report, but projects positive net earnings of $8 million before interest, taxes, depreciation, and amortization for 2018.
In addition to online sales, Casper also operates some brick-and-mortar stores and sells its mattresses and other items through retailers like Amazon, Costco, and Target. It’s expanded in recent years into new markets like blankets and even bedside furniture.
Backed by celebrity investors like Leonardo DiCaprio and 50 Cent, as well as more traditional venture capitalists, the company is rumored to be considering an initial public offering, CNBC reported this week.