Casper Sleep S-1

https://www.sec.gov/Archives/edgar/data/1598674/000104746920000166/a2240404zs-1.htm

by jonknee • 7 years ago

133 158 7 years ago

tempsy6• 7 years ago

I haven't been in the market for a mattress for awhile now but went on Casper's website and was shocked to see the price for a Queen is now $1095.

I didn't remember it being that high, and checked Wayback and sure enough it was $850 in 2015, and $950 in 2017.

Given how many copycats are out there, many selling for much less, can someone help me understand how Casper gets away with selling a $1095 mattress + tax to a majority millennial crowd, who are supposedly cash strapped, and doing so successfully?

rolltiide3• 7 years ago

can someone help me understand how Casper gets away with selling a $1095 mattress + tax to a majority millennial crowd, who are supposedly cash strapped, and doing so successfully?

Because the mattress sellers in the bad part of town still charge 3x more.

blackearl4• 7 years ago

I got a great mattress from an outlet, queen size for about $400. I was blown away thinking that Casper was going to be cheaper. They just have good marketing I think

ivalm4• 7 years ago

Go to Costco, Living Spaces, or a myriad of other non-seedy stores and get a mattress for half the price.

gooseus• 7 years ago

I'm guessing market dominance from years of targeted advertising on podcasts as well as buying/bullying mattress reviewer websites to make sure they stay as the highest rated.

HN from 2017: https://news.ycombinator.com/item?id=15321807

"Casper went to war with popular mattress review site, then financed its takeover"

tempsy6• 7 years ago

so even people who are cash strapped are willing to overpay for a commodity item if they perceive it to be the best in a certain price range...?

i guess purchasing behavior is very different for things you buy very infrequently like a mattress?

looking at Costco and a highly rated foam comparable to Casper is $500...

chris_engel• 7 years ago

I guess its because many people think that they need to sleep well in this hectic times and cannot allow themselves tu cut cost on a mattress. Expensive = good quality. Turns out this is nonsense - we have a foundation in germany that does independend product tests for all varieties of things and came to the conclusion that the best mattress they ever tested was some 200€ mattress.

topkai22• 7 years ago

We have the same in the US (consumer reports) and the Casper hybrid mattress currently has the 2nd highest rating. Expensive is not necessarily better, but it is often correlated.

It’s worth noting European sleep preferences are different than Americans, tending to prefer much firmer mattresses, so different testing results make sense.

dirtyid• 7 years ago

Brand appeal I suppose. I remember 1/2 the Casper price tag goes to marketing - I just bought a generic Amazon Zinus for 1/2 the price that research suggested came from the same foam factory. Seems like Zinus has gone down in cost in the last few years as one would expect with economy of scale while Casper has gone up one, $250 now from Amazon shipped, 1/4 of Casper. Simultaneously feels like Casper has cut back on marketing. Also Zinus is a 40 year old Korean company that's been doing bedding for for 15 years compared to Casper, a tech company that's been around for 5. It seems like a no brainer decision for anyone doing rudimentary research.

seesaw• 7 years ago

I got two Zinus mattresses from Amazon for about $400 total. It has been only two months, but I have been happy so far.

dawnerd• 7 years ago

Costco just had them for 480 bucks. I picked one up, so far it's been worth it.

ra7• 7 years ago

Same and it was a fantastic deal. Even without the holiday discount, Costco sells it for $599 which is close to 50% discount on Casper's $1095 price. They brand it as 'Casper Select', but it's essentially same as the the original.

meddlepal• 7 years ago

I just spent 1600+ on a (really nice) new queen.

I spend a lot of time on my mattress... might as well buy a nice one I really like (Stearns & Foster)

starpilot• 7 years ago

This is preying on "wellness" concerns. Casper convinces you that a problem exists where it previously (probably) did not, that your sleep is suboptimal, and that only they can fix it for you. Prehistory, humans slept on beds of grasses or reeds on the ground. I still think 80% of your sleep quality is determined by what you do in the day: caffeine intake, amount of physical activity, overall stress level.

I have a Casper. I found it way too firm as a side sleeper, but it was too late to return it, so I bought a $100 memory foam topper from Costco to make it more squishy. I could have saved a lot of money by buying Zinus mattress from Amazon and adding the topper, but oh well.

astura2• 7 years ago

Advertising/marketing.

People often perceive a mattress as "very important," as sleep is important, and are willing to spend a bit extra if they think the quality will be there and they'll sleep better.

In reality I believe most of these "mattress in a box" companies are selling the same 2-3 mattress manufactured in the same factory.

Personally, I buy mattress in the $300-$500 range. When I was in college I just slept on a brick of foam because that was what I could afford.

Lotus123• 7 years ago

http://freakonomics.com/podcast/mattress-store-bubble/

xchaotic• 7 years ago

It is important. Given how much time you spend sleeping and people complain about spending $1000. But they don’t complain about a $30000 car they spend less than half the time in.

rconti2• 7 years ago

And they're disrupting sleep by advertising on podcasts and cutting out middlemen and... now opening stores. eyeroll

ivalm4• 7 years ago

Maybe they don't buy Casper? I am not cash strapped but shopped around a little bit and got a (very satisfying) queen size mattress for $600 last year @ Living Spaces.

discardable_dan2• 7 years ago

I bought a queen at Costco this year for $599.

master-litty• 7 years ago

Casper caters to stress, ripoff anxiety, social anxiety, and budget.

1. We, the millennial crowd (tm), are insanely stressed on average. Whether it's objectively genuine or falsely perceived, brought on by ourselves or otherwise, it is something we enjoy having control over -- And choosing a "simple" mattress that is straightforward to research and buy caters to that desire perfectly. For awhile Casper only had one mattress, and it seemed like an irrefutably decent mattress. You simply chose the size!

2. If you don't like the mattress you can return it within a period of time. Mattress sellers often offer this, but Casper advertises it. It adds a sense of authenticity to the sale, and I think many people (not just millenials) feel more at peace about buying the mattress without trying it first.

3. It's shipped to you and comes in a box. Usually there's no talking involved. Nobody has to come into your home. Regardless, many of us don't even have a vehicle to pick up a mattress with anyway, nor the available friends to help bring it in through the front door. Maybe a delivery person would help but what if they don't? And what if you miss the delivery?

4. Monthly payments. I feel most millennials don't really care about the total cost of something, as long as there's a monthly payment option that is reasonable. Paycheck-to-paycheck is the format we're used to budgeting in, which easily puts a monthly payment into perspective. $35/month versus $350 upfront is way more manageable.

Ohn02• 7 years ago

I'm so tired of this

rolltiide3• 7 years ago

Why? In a less costly regulatory environment it would happen way more frequently and it would not be elevated as news

https://www.statista.com/statistics/270290/number-of-ipos-in...

Edit since I am rate limited: yes it is the best comparison. Let the public access more securities investments, the tools to manage risk are numerous.

jaypeg25• 7 years ago

I'm all for having more IPO's (my job is actually advocating for policies that make it easier/cheaper for companies to go public) - but maybe this isn't the best comparison to make: "While this [# of IPOs in 2019] was an increase from the past few years, it was half the number of twenty years ago, while the Dot Com Bubble was forming."

null_turkey• 7 years ago

I'm not totally sure what 'this' is referencing, but if its the feeling that there are too many IPOs -- I see it as a good thing!

It's so hard to find investments where a company hasn't hit their biggest growth period yet. It feels like you need to be in some inner circle of investors to get in on some of that action.

I probably wouldn't invest in Casper, but I hope the number of IPOs keeps increasing!

atyppo2• 7 years ago

IPOs have precipitously declined since the 90s. In 1999, there were 486 IPOs. There are now approximately 190 per year. [1]

[1] https://www.statista.com/statistics/270290/number-of-ipos-in...

awalton4• 7 years ago

You're going to go with the dot-com bubble era for a comparison here?

samcampbell• 7 years ago

Disaggregated Revenue Data (Nine months ended September 30) Direct to Consumer: 2018- $239M; 2019- $259M [13% YoY growth]

Wholesale: 2018- $31M; 2019- $54M [75% YoY growth] "20.3% year-over-year net revenue growth for the nine months ended September 30, 2019"

"We have also expanded our gross margin from 42.8% in 2016 to 44.1% in 2018 and to 50.7% for the three months ended September 30, 2019"

sharkmerry• 7 years ago

Their Net Loss is still on pace to be about (90m) (most likely slightly more due to sales in Q4 being higher than others). 2018 was 93m Net loss

whoisjuan• 7 years ago

It seems that they already saturated their Direct to Consumer channel and all their growth is now dependent on their wholesale efforts. It seems risky to me, especially with a slow-cycle business like mattresses. Also what happens if retailers create their own premium brands and/or secure exclusivity deals with other manufacturers?

blackearl4• 7 years ago

No better time to dump the business on the market and run

paxys• 7 years ago

Risky, yes, but the US mattress market has an annual revenue of ~$15 billion, so wholesale is definitely the area where they can expand a lot.

throwlaplace• 7 years ago

those are great (fantastic?) margins but i don't understand why they're not higher? there are so many memory foam mattresses on amazon that are exactly the same thing (maybe slightly shallower "soft foam" that run for e.g. ~300 for a queen that are themselves probably making great margins.

wayoutthere• 7 years ago

I have a Casper and I tend to sweat a lot at night so I was looking for a more premium mattress with better ventilation. When I've spent the night with "friends" who have cheaper foam mattresses, I often wake up drenched in sweat.

opportune2• 7 years ago

Interesting that they want to explore medical devices, “sleep services”, and sleep supplements. Guess they are marketing themselves as the Amazon of sleep? Because right now all I know about them is that they sell overpriced mattresses

dguo• 7 years ago

You are correct: https://fortune.com/2016/04/19/casper-amazon-of-sleep/

cmdshiftf42• 7 years ago

Though my initial response to the title was to laugh, upon further thought I think they're actually making a smart play here.

They're essentially betting on "optimizing wellness" being a huge fad this decade, which I believe many others are predicting, and are using their current position to get more cash to get ahead of that.

I don't associate Casper with "a quality night of sleep", probably because I'm happy with my current mattress and have no need of their product, but at the same time I couldn't name a single one of the current applications that exist to track + "optimize" sleep / circadian cycles, and I'm sure I'm not alone in that, so who knows? Maybe in 2030 we'll all be moaning about Casper putting up their Nighty Night subscription another $7 for "HD dreams" and reluctantly acquiescing to it.

root_axis• 7 years ago

Just want to shout out to the Casper Glow Lights, those things are awesome. Interesting to see a mattress company expand into other cool products.

Humdeee• 7 years ago

I've been using 2 of them now for well over a year and they've been excellent. I fall asleep with them every night. It's a well engineered product. The only minor criticism I could give is the dimming functionality by spinning while in the charging platform could work a little better.

mundo3• 7 years ago

I bought a latex mattress several years ago, and will never buy another mattress. (Literally, they last 50+ years) Feels great, available in a range of firmness, no weird smells, never deforms, doesn't get hot, and naturally insect/mold resistant. I think I paid 1300 USD for a king size.

I know that's only tangentially relevant to the topic at hand, I'm just mentioning this since I had trouble finding much info on them. Latex is not promoted or advertised much, since they have very low markup compared to other mattresses; the store would much rather sell you a "hybrid" (usually 1/2 latex and 1/2 memory foam). But if you want to pay 2x as much to get something that lasts 4x as long, what you want is simple, boring, 100% natural latex.

mundo3• 7 years ago

This is probably my most confusing slew of downvotes. What do you think, I own a plantation of rubber trees? I thought it was surprising and interesting that something invented ~100 years ago would be an optimal choice in a thriving market full of recent patents. Ah well.

cycrutchfield• 7 years ago

+1 for latex mattresses. Better than memory foam in every way.

gilbetron• 7 years ago

While we love our natural latex (from flobeds.com, no affiliation!) bed, it doesn't last forever. We had to replace ours at 15 years - while it was still better off than a spring mattress, it still had become worn. It had valleys and clumps - basically the latex was somewhat broken down. Compared to the new mattress, the old was more brittle and would tear easy, while the new one was resilient and springy.

The difference between it and normal spring mattresses is amazing though. I highly recommend them!

uwuhn• 7 years ago

Which brand? I've never considered a latex mattress, and I need to replace my current one soon.

mundo3• 7 years ago

I don't know the brand, I got it from a local mattress store in town and it wasn't branded beyond the name of the store (not a chain). But neither was it made locally, I think they're mostly made in SE Asia. I assume there must be online retailers but can't recommend one, sorry.

ericd• 7 years ago

I really like our SleepOnLatex mattresses (https://sleeponlatex.com). They're yet another mattress-in-a-box company, and the name is kind of bad, but the mattresses are very high quality AFAICT - UL Greenguard Gold/Oekotex certified for low emissions, organic wool covers rather than chemical retardants to meet fire standards. And they're extremely reasonably priced to boot ($800 for a queen).

No affiliation, just a very happy customer. Never tested their customer service/returns/etc, so I don't know how good they are there.

tesmar22• 7 years ago

We just bought one from Arizona (https://www.mattresses.net - no affiliation) and it's been fantastic. Sleeps really cool.

sfblah• 7 years ago

When I was 23 and doing startups full time, I slept on a hardwood floor with just a blanket and a pillow. Helped me to get up in the morning and do work, did nothing bad for my body as far as I can tell.

newnewpdro• 7 years ago

I've slept on a carpeted floor for decades, zero back issues.

Just one night sleeping on a conventional mattress leaves me with weird back pains and a stiff neck.

Not only are they costly and a PITA to move, mattresses waste a lot of space too.

Traditional Japanese tatami mats are basically the same thing in terms of flatness and hardness, they're not known for having sleep/back troubles.

xenospn4• 7 years ago

I absolutely loved sleeping in Japan and Korea. Tatami on heated floors is an absolute pleasure.

AJ0072• 7 years ago

That's ridiculous that you were down voted. My brother slept on a rock hard bed as a kid and is able to sleep on the floor, without a pillow, all night no problem. The soft bed thing is more of a cultural issue than a biological necessity.

xenospn4• 7 years ago

Anyone who has ever been to bootcamp can tell you that it really doesn't matter where you sleep if you're REALLY tired. I would sleep on the ground if they let me. I would fall asleep sitting down, then stand up and fall asleep again. And when I did finally go back to my tent to sleep on my 50 year old army bed in a used sleeping bag, it was the best sleep I ever had.

seldonnn• 7 years ago

It’s a tech company guys

0zymandias• 7 years ago

Many engineers would benefit from spending a year in sales and a year in marketing.

There is a whole other way to look at products like this that is often missed if you haven’t done the time.

mlthoughts2018• 7 years ago

Many engineers focus on sales and marketing all the time as a normal course of jobs that involve product management. Many engineers already take into account sales and marketing perspectives in very effective ways, especially quantitative ways that are underused by employees whose sole jobs are exclusively in sales or marketing.

It’s very tiring to see engineers be tacitly assumed to need remedial time in other fields to gain sufficient appreciation for them, especially when the reciprocal deficiency of experience in engineering is virtually never raised for sales, marketing, etc. while engineers often do self-learn quite effective product and business skills.

cm2012• 7 years ago

They could be making better Facebook ads to get that acquisition cost down. The text on the image for a lot of their ads is way too small!

https://mobile.twitter.com/kevinwlordbarry/status/1215786907...

umeshunni2• 7 years ago

For the last 9 months of 2019 (all in USD)

Revenue - 312M COGS - 157M Sales & Marketing - 113M General & Administrative - 106M

Net profit (loss) - (67M)

First thought: How on earth are they spending $11M/month on G&A expenses?

On further reading -

Casper Labs, our over 25,000 square foot advanced research facility in San Francisco.

Ah, ok then...

Second thought: Why isn't R&D broken out as a separate line item?

skellera2• 7 years ago

Just wanted to say that working with Casper customer service was one of the worst experiences I’ve ever had.

I bought their top of the line hybrid mattress then a few weeks later they had a sale which could be used on any of their products if you bought a mattress. We really wanted the lamps so we contacted customer service to see if it was possible to get the discount since we just bought the mattress. The girl was extremely rude making it seem like I was wasting her time. She told me that there was no way to add anything to an existing order so I couldn’t do it. I asked if I had to return the mattress and reorder it to get the lamps and she said yes that’s what I would have to do but no I was out of luck because they took too long to respond to me (called after they didn’t respond to any of my messages) so the promotion was over. The whole time she just seemed annoyed that I even tried to ask.

Sorry I spent $2000 on a mattress and wanted to spend more on another product. I just returned it and got a Novosbed for half the price and it was way better so I’m pretty glad it turned out that way. Keep in mind that Casper can’t sell a return so they have to donate it. The whole return was a mess to deal with as well. Glad they lost money on the return even if they get to write some of the donation off.

Guess my point is that I don’t think Casper treats their customers well. I wouldn’t touch them as an investment. I personally think they’re just cashing out at this point.

alexandrerond• 7 years ago

Do you keep track of all the things you buy in case price goes down so that you can complain to customer support when they do?

In my case, I contacted support to see if I could get a discount before making the purchase and they told me to wait two weeks for an upcoming promotion. Also quickly exchanged a defect mattress.

Not saying they're the best, but complaining because they don't have retroactive sales....

rockinghigh• 7 years ago

I don’t see how this is a horrible service experience. There is no expectation of a company to honor future discounts. Would you return a car if its price later dropped or if they suddenly had a better deal?

dubcanada• 7 years ago

That has nothing to do with it. The problem with the customer service is not them not honouring future discounts.

It was them not being good customer service, the general rule in customer service is basically try and do what ever the customer wants. In this case they wanted a coupon (probably for 10-20% off extremely expensive lamps) after buying a $2000 mattress. This doesn't matter and should have been given immediately.

The positive review of a single person is more important then losing 10-20% on a sale after a user already purchased another product.

Due to them not giving them a 10-20% coupon they lost a $2000 mattress sale and got a bad review on a site.

codingslave2• 7 years ago

The trick is that there are a bunch of mattress companies on Amazon selling really cheap foam mattresses (~200$) that are basically the same as Casper. But Casper jammed a ton of money into branding and marketing, so probably has great margins on their products. Foam mattresses as a product are getting extremely cheap and the quality is really not bad. I have a cheap one and honestly like sleeping on it more than 1200$ spring bed I had.

discardable_dan2• 7 years ago

Can you recommend any of these cheap Amazon alternatives?

ryana• 7 years ago

We bought a Zinus mattress recently. $260 for a queen size and pretty great so far.

Cymen• 7 years ago

I love this one:

Sleep Innovations Shiloh 12-inch Memory Foam Mattress

I've had others staying in our guest bedroom love it too and go out and buy one. At this point, with a number of moves and growing family, I've bought something like 5-6 of them.

I think Costco sells the same mattress under Novaflex or a similar name but at a slightly higher price point (the Amazon price varies quite a bit on the Sleep Innovations mattresses -- check CamelCamelCamel on it if curious).

axaxs• 7 years ago

I've moved a lot in the past few years, and each time buy a new mattress. Each time I've bought on Amazon, and to be honest, never had one I hated. Brooklyn Bedding, Zinus, etc. My favorite so far I took a complete gamble on and didn't expect much, but wow was I impressed. I have only had it 6 months so can't speak to its longetivity, but I sleep like a baby. It's a 'Revel' brand, here https://www.amazon.com/gp/aw/d/B07CZWQ97P/

icelancer2• 7 years ago

Zinus, like the others have said, is usually pretty good.

xenospn4• 7 years ago

Had this one for the last five years, it's been great: https://www.amazon.com/gp/product/B00828AQ9M/ref=ppx_yo_dt_b...

whyenot• 7 years ago

I bought an AmazonBasics memory foam mattress about 15 months ago and have been happy with it. I think I paid about $240 for it.

umeshunni2• 7 years ago

Relevant article: https://www.cnbc.com/2019/08/18/there-are-now-175-online-mat...

"“Barriers to entry are low, but barriers to profitability are high,” he said. “It doesn’t take that much to design a mattress, a marketing campaign, put up a website, and have one of these big companies like Carpenter do the fulfillment for you,”"

The majority of bed-in-a-boxes outsource their manufacturing...They’re literally calling around to producers saying, ‘we need a finished product and here’s what we think it should look like.’ Sometimes, they don’t even know what they want it to look like...Most of the outsourcing is to just four major manufacturers

jelliclesfarm• 7 years ago

I bought a Casper off shelf two days ago. It was the only one on the shelf in Target and it was 9.45 PM. It was pricier than I had expected and didn’t understand why it was so expensive. But I needed one pronto and it wasn’t worth my time to go looking for something else that late at night.

But I did wonder why it was so expensive..

commoner3• 7 years ago

Casper sued a mattress review site, Sleepopolis, for writing negative reviews of their products. Casper then settled the lawsuit by taking over Sleepopolis. The site now posts only positive reviews of Casper's mattresses.

https://www.fastcompany.com/3065928/sleepopolis-casper-blogg...

I would take any reviews of Casper's products with a grain of salt.

onlyrealcuzzo• 7 years ago

Mattress reviews are notoriously fake. I would take any mattress review with a grain of salt.

Spivak• 7 years ago

Not to get too meta but undermining reviews is also a tactic used by companies to manipulate sales because if you don’t trust any reviews but still have to make a decision you’re going to go with a “safe” “established” brand which usually means whoever has the most mindshare.

aquadrop• 7 years ago

I would take the whole mattress industry with a grain of salt.

xwowsersx2• 7 years ago

Does the same apply to reviews on YouTube? There are some channels dedicated to mattress reviews (as funny as that seems).

lxmorj• 7 years ago

They’re thugs.

joering22• 7 years ago

Thanks for pointing that one out! I had no idea. I was literally less than a week from purchasing two Casper mattresses - one for my family one for my parents. I bailed. I also told my sister to return hers since she's still in the refund window. She told me it wasn't nearly as comfortable as she thought but they gave her hard time with refund. They asked her to either pay return fees which are north of $300 or find non profit that would accept. I'm taking matters in my hand. Its sad.

hurricanesugar• 7 years ago

Relevant HN discussion and further details about Casper’s relationship with sleepopolis.com: https://news.ycombinator.com/item?id=15321807

syntaxing• 7 years ago

Mattress/politics is really shady. Purple tried to sue this YouTube blogger that was complaining about the mysterious "secret formula" powder that Purple used prevent the plastic sticking. I ended up getting a Leesa since it was the most reputable and haven't done anything shitty.

icelancer2• 7 years ago

The backstory here is a bit more complex. The "powder" is entirely safe and the blogger was spreading disinformation while also running an incentive/referral site of their own while being connected to a competitor (GhostBed). Whoops.

https://www.legalreader.com/ghostbed-vs-purple-mattress-laws...

https://nonbiasedreviews.com/was-honest-mattress-reviews-bro...

etc.

gurkendoktor• 7 years ago

Mattresses are so notoriously shady that one popular new brand in Germany is literally marketed as the "anti-cartel mattress". Of course, the top Amazon reviews are full of people calling it a scam. (I have one and it's, well, tolerable.)

xivzgrev• 7 years ago

Great business story. They quickly capitalized on a trend (tuft and needle started 2 years before), pumped it up with great marketing and distribution, and now are making their exit before a recession.

Would. Not. Buy.

Apocryphon• 7 years ago

Feels like in all of these booming startup segments there's always an Uber.

b0tch7• 7 years ago

I did an insane amount of research when buying my mattress a couple years back, there are _so_ many bed-in-a-box companies now. Decided on Helix Sleep because they offer a level of customisation, and their customer support is rated incredibly highly (which I decided very important if you're going to buy a mattress without trying it).

I love my Helix so much so that I convinced my parents to buy one. They didn't love theirs and sure enough, customer service was hassle-free with the return. So my n=2 recommendation: Helix is the way to go

That said those Glow Lights do seem pretty awesome

xwdv• 7 years ago

The product I like from Casper isn’t their mattress – It’s their lights. They’re god damn incredible, I sleep peacefully thanks to those. They should just focus on stuff like that.

0xADEADBEE• 7 years ago

A genuinely enjoyable long-form post I read a while back involved Casper [0]. Not sure how germane it is but perhaps someone will enjoy it.

[0] https://www.fastcompany.com/3065928/sleepopolis-casper-blogg...

rtny4821• 7 years ago

Casper should buy calm.com

sb057• 7 years ago

Unsolicited advice: buy the cheapest mattress (that doesn't squeal) that you can find and slap a $50 memory foam topper on top of it. That maxes out my comfort level.

someonehere• 7 years ago

Casper’s return policy is wasteful.

100 nights or your money back. After two days we didn’t like the mattress. Emailed support and told them we weren’t happy with it. The next day 1800 Junk truck came out and trashed the mattress. So essentially their returned mattresses go into the landfill and become waste if you’re not happy with it.

johnpowell• 7 years ago

Maybe they don't want a bedbug invasion in their warehouse.

I bought a cushion for my desk chair from Amazon and it turned out to be garbage so I tried to return it. They said they could only give me a refund if I sent them a picture of the cut up cushion. I didn't have to send it back, just send a picture of it with a big gash down the middle.

I guess, at least with 1800 Junk there is a good chance a employee will pluck the mattress out and put it up on Craigslist.

scarface74• 7 years ago

What do you suggest they do? Sell a used mattress?

joshmn• 7 years ago

I wonder what would have happened if you told them you were in the middle of nowhere.

tesmar22• 7 years ago

We tried the memory-foam-in-a-box mattresses and they were not good (leesa - I suspect Casper is similar.). We just ordered and received a latex mattress from Arizona (https://www.mattresses.net) and it's so much better. I don't work for or have any affiliation with them, I just hope this helps someone else.

raverbashing2• 7 years ago

I think this is who put it more succinctly:

"Casper is a very inefficient wealth transfer from venture capitalists to prestige podcast makers"

https://twitter.com/kevinroose/status/1215734138981928960

speedplane• 7 years ago

"Casper is a very inefficient wealth transfer from venture capitalists to prestige podcast makers"

___[Big Well Known Consumer Products Company]___ is a very inefficient wealth transfer from ___[Blue Chip Stock Investors]___ to prestige ___[Traditional Media Companies]___

Casper Sleep S-1

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