Casper Ends Public Debut Worth Less Than Half Private Valuation
- Mattress retailer’s shares rose 12% after slashing IPO price
- New York-based company cut its IPO price range on Tuesday
Photographer: Rachel Murray/Getty Images
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Bed-in-a-box seller Casper Sleep Inc. rose in its trading debut, but still ended the day worth less than half the valuation it reached as a private company.
Shares of Casper closed up 13% Thursday at $13.50 apiece in New York, giving the company a market value of $535 million. The online mattress retailer was last valued at $1.1 billion in a private funding round last year.