Target pours money into mattress startup Casper after sale falls through
Target is betting big on mattresses in the mail.
The big box chain is investing $75 million in bedding delivery startup Casper as it looks to bolster its e-commerce offerings in the face of the tanking brick-and-mortar market, Recode reported Thursday.
A source familiar with the deal confirmed that amount.
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Casper has sought to upend a $14 billion industry with foam mattresses that are folded into ultra-compact packages for shipping. Before now, it’d raised nearly $70 million in venture capital.
Target was reported to be considering a billion-dollar acquisition of Casper