But business experts who spoke with Business Insider aren't buying it. And they doubt whether Wall Street investors will either.
Private investors have also accommodated Casper's losses while it has focused on growth. It lost $65 million in the first three quarters of last year, or about 21 cents for every $1 of revenue it took in. Its cash outflow during that period was even worse; its operations and investments in property and equipment burned through about $73 million.
"We believe that well-designed sleep technology can significantly improve sleep quality and behaviors," Casper said in the document. "We aspire to develop new sleep technologies ... such as products that address the environmental factors of light, sound, touch, and scent."While Casper may be particularly savvy in its use of technology and may have a bunch of tech products in the works, there's little evidence right now it actually should be considered a tech company.
"I can't call this a tech," said Dan Morgan, a senior portfolio manager at Synovus Trust and a longtime tech investor.
“Hear why...”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scott Galloway: Casper's filing for IPO bad idea, it will hurt stock - Business InsiderNYU Professor Scott Galloway on why Casper's filing for IPO isn't enough to save the sinking startup, and how far he predicts their stock will drop in 2020 (via ScottGalloway)
Source: BusinessInsider - 🏆 729. / 51 Read more »
5 restaurant executives and insiders reveal the industry's biggest challenges for 2020 - Business InsiderBusiness Insider spoke with five restaurant industry insiders about the biggest challenge facing the business in 2020.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Is Peloton a Fitness Fad or a Tech Company? Everything’s Riding on the AnswerPeloton’s internet-driven exercise scheme underpins the company’s fundamental pitch: That at its core, it’s a tech company, not just another get-fit program Surely there’s cheaper equipment to hang your clothes on. Why do companies like this and wework and so forth purport to be something they’re not? It’s a workout program; they’re not ”changing the tech industry” or “revolutionizing” anything I’m tired of these get fit tech companies
Source: WSJ - 🏆 98. / 63 Read more »
Tech firms sue Facebook, want Mark Zuckerberg to give up control and sell stoke - Business InsiderFacebook is being sued by 4 tech firms who want Mark Zuckerberg to give up control and sell his majority stake Today, Mark is a puppet, fulfills a debt to his patrons for the development of Facebook and can do anything just to please his patrons.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How the cofounder of Museum of Ice Cream built a $200 million company - Business InsiderThe 27-year-old cofounder of Museum of Ice Cream turned a viral trend into a $200 million experience-first company. Here's how, and why she's not afraid of copycats. (by RobinMadell)
Source: BusinessInsider - 🏆 729. / 51 Read more »