Casper, once the original direct to consumer mattress has been acquired by private equity firm Durational Capital Management. Casper was founded back in 2014, selling to North America to start with, then branching out to the UK a couple of years later. The direct to consumer market really got competitive in the UK once Casper arrived here, it unfortunately got overtaken by companies who advertised much more – such as Emma, Eve and Nectar to name a few.
In the US, Casper was one of the most recognisable companies to advertise on podcasts. This week, the company reported it had lost $25.3 million in Q3, a rise from Q3 in 2020 where it lost $15.9 million.
Casper has a wide array of sleep related products, including bed frames, pillows, sheets, dog beds, lamps, clocks and more. It evening had a select number of physical retail locations in the US, so it is possible the company tried to do too much at once and diluted its focus.