vp

ISSUE – May. 20 | Target looked at buying the mattress startup Casper for $1 billion but will invest instead

Target held serious acquisition discussions over the last few months with the mattress startup Casper Sleep, according to multiple sources, but plans to take a minority stake instead. Multiple sources told Recode that Target offered $1 billion to buy the fast-growing New York City-based company, but the two sides couldn’t work out a deal.  Casper had been out raising a large round of funding when the talks started, sources said. The startup generated around $200 million in sales in 2016 — its second full year in business — and was valued at around $550 million after its last private investment in 2015. [ Re/Code ]

read_2

ad