Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.Casper, the well-known D2C mattress company, has lowered its IPO price range in a new S-1/A filing made public this morning.
The repricing leads to a lower expected valuation for the former startup and a lower IPO raise.The decision by Casper to shoot lower in its IPO comes after One Medicalpriced its own public offering conservatively last week, but it was rewarded by the public markets with a dramatic gain in value.
That positive reception does not appear to have been enough to help Caspers IPO pricing cycle.Lets calculate Caspers new valuation range and expected fundraise, figure out its implied revenue multiples, and see if the resulting figures make sense when compared to Purple, its public competitor.
For tech-enabled companies heartened by One Medicals public offering, this is the other side of the coin.