The 6 most surprising and unusual takeaways from Casper's IPO filing
Casper warned that influencers could cause its business to take a hit.
Casper views itself as a major player in the "sleep economy," not just the mattress market.
Casper's company ethos isn't defined by being a mattress company — it describes itself as being part of the "sleep economy," which encompasses everything that happens before, during, and after sleep. Casper calls this the "sleep arc" in its IPO paperwork.
But the company isn't just focused on the sleep of human adults: it wrote in its filing that it wants to understand and serve the sleep economy "in a holistic way" for babies and dogs, too.
It expects the global sleep market will grow at twice the rate of the global economy.
In one of the slides in Casper's filing, it valued the global sleep market at $432 billion, and projects that market will grow at an annual rate of 6.3% over the next five years, which is nearly twice as fast as the global economy grew in 2019.
Casper wrote that it expects the global sleep market to be worth $585 billion by 2024.
Casper is diving into other product categories, including potentially building its own sleep apnea machine.
"Our approach is to offer products and services across the entirety of the Sleep Arc under one brand," Casper wrote in its filing.
Beyond mattresses, the company's product lineup currently includes pillows, bedding, bed frames, weighted blankets, lamps, and more. But it plans to extend its wares significantly, mentioning these products in the filing:
- White noise machines
- Room diffusers
- Humidifiers
- Sleep trackers
- Bedside clocks
- Sleep apps
- Meditation apps
- Counseling apps
- Supplements
Casper also hinted that it could get into the medical devices market. In a chart in the filing, the company lists the market for continuous positive airway pressure, or CPAP, devices as being worth $25 billion. The machines help people who have sleep apnea breath more easily.
Casper may want to disrupt the pajamas market.
In the same graphic in its filing, Casper noted the "$32 billion" pajama market as being part of the global sleep economy.
It's a hint that the company may be considering its own line of pajamas in the future, which isn't much of a surprise: Casper already provides pajamas for American Airlines passengers to wear on long international flights.
And at its Dreamery space in Manhattan — where guests can enjoy a 45-minute nap on a Casper mattress inside a nap pod — the company supplies pajamas to wear during your visit. But when Business Insider visited in 2018, the provided set were made by pajama company Sleepy Jones and cost $178.
It's eyeing the $5 billion pet market, too.
Casper noted that there are opportunities in the $5 billion pet market as well. It lists mattresses, furniture, over-the-counter drugs, vitamins, and supplements for cats and dogs as part of the $432 billion global sleep economy.
Casper already dabbles in the pet market: it's been selling a memory-foam dog bed that comes in three sizes since 2018.
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