Who Owns Casper Mattress in 2024?
Durational Capital Management is the owner of Casper. Casper went under this management firm at the beginning of 2022.
Casper has passed through several phases, and its ownership changed several times in each stage. All these happened in a short period of only eight years.
Read the article further to discover more about Casper’s ownership holders, finance trends, etc.
Who bought the Casper mattress company?
In November 2021, Durational Capital Management announced the purchase of Casper. Two months later, in January 2022, the investment firm completed the transaction and owned Casper.
With the transaction, the New York Stock Exchange delisted Casper’s stock. And it resulted in the turning of Casper mattress company into a private company.
That is not all. There was a merger agreement term. And that is, Casper shareholders received 6.90 US dollars per share in cash.
Now, let’s learn about the capital firm that has purchased Casper.
In 2017, Eric Sobotka established Durational Capital Management. It is an equity firm that focuses solely on investments in the consumer business. The main target of Durational is to have long-term success.
Casper is the most recent investment of this investment firm. However, besides Casper, Durational has three other brands in which the firm has invested a tremendous amount.
The brands in which Durational Capital Management has invested money are listed below to see at a glance:
- Casper
- Bojangles
- Churchill Downs
- Sanderson Farms
RELATED: Who Makes Sven & Son Mattress
Is Casper an American company?
The answer is yes. Casper originated in New York, United States, and its headquarters is also in New York. Moreover, the assembly facility of this mattress manufacturer is inside the country’s boundary.
In April 2014, five people initiated the Casper mattress company. The co-founders, including
- Neil Parikh
- Philip Krim
- Jeff Chapin
- T. Luke Sherwin
- Gabe Flateman
Before the beginning of Casper, the co-founders were able to raise 1.85 million dollars of funding for their new company. And all the funding came from American investors.
Casper’s assembly plant is in the United States. However, the parts and base materials used to assemble a mattress come from various regions worldwide. The countries from which Casper sources materials, including
- India
- Vietnam
- France
- Portugal
- China
Even though Casper outsources the assembly parts and materials from other countries, it prints Made in USA on the packaging. Instead of Made in USA, the company could have used the phrase Assembled in USA.
Does Leonardo Dicaprio own the Casper mattress?
Interestingly, the answer is yes. Leonardo Dicaprio once invested money in the Casper mattress manufacturing company. Not only Dicaprio but also a Hollywood musician, Adam Levine, had invested.
Everyone was worried that Casper would never make much profit as an online mattress company. People generally purchase mattresses after experiencing them in bedding stores.
Therefore, selling mattresses online was not a good idea, according to some folks. However, Casper changed that perspective. In the 2016-17 fiscal year, Casper sold nearly 2 million dollars worth of products.
Leonardo Dicaprio, as well as other celebrities and businessmen, came to invest in Casper’s business. All of them knew that Casper had the potential to overcome the social belief about online buying.
However, in 2022, the scenario is slightly different. Casper is now a bit desperate to survive in the market competition. Sales of this mattress company have dropped significantly.
In this situation, investors are pulling out their money and leaving. There is no newspaper cover if Leonardo Dicaprio has left Casper or not. Therefore, we cannot provide the information, unfortunately.
Related Read: Who Makes Casper Mattresses
Why was Casper delisted?
For a brief moment, Casper was turned into a public company. However, in November 2021, it was reverted to a private company again.
When Casper was a public company, its shares were sold on New York Stock Exchange. When Durational Capital Management bought Casper, it became a private company.
As a private company cannot sell share stock in the same way as a public company, Casper’s name on New York Stock Exchange was no longer valid. Therefore, NYSE removed or delisted Casper’s name.
Sources
- https://www.durational.com/investments/ – Durational Capital Management Investments (Durational)
- https://sg.finance.yahoo.com/news/online-bed-business-backed-leonardo-105203067.html – Leonardo Dicaprio Investing In an Online Mattress Company (Yahoo! Finance)
