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Maybe it's me, but I fail to see how this is relevant to HN. The Market Watch article doesn't say much other than what the title already states. To showcase th

Maybe it's me, but I fail to see how this is relevant to HN. The Market Watch article doesn't say much other than what the title already states. To showcase the irrelevance, let me just copy/paste the whole article. > Casper Sleep Inc. CSPR, +0.00% lowered the price range for its planned initial public offering on Wednesday to $12 to $13 a share from a previous $17 to $19, a move that reduces its valuation to just over $500 million. The company is planning to offer 8.4 million shares to raise $109.2 million at the top of the range. With 39 million shares outstanding expected once the IPO is complete, the company would have a valuation of just $507 million, below the $741 million it would have had under the previous price range and now less than half the $1.1 billion it garnered in its last private funding round. Eight banks are underwriting the deal, led by Morgan Stanley, Goldman Sachs and Jefferies. Proceeds of the deal are earmarked for growth and general corporate purposes. The company will list on the New York Stock Exchange, under the ticker symbol "CSPR."

Spooky23 7y ago
It implies the market is more skeptical of the transformational power of a standalone mattress maker. It's relevant to the HN community! You have a company that was valued over $1B during funding rounds that has seen that valuation cut in half. That's an example of how the rise of the mega-companies like Amazon and Walmart are suffocating new entrants. Your reinvention of the lounge chair probably won't be a startup now, when Amazon can have a knock-off pushed out the door in a couple of months.
- dantheman 7y ago
  To be clear, they don't actually make the mattress.
pottertheotter 7y ago
The HN guidelines say, "Anything that good hackers would find interesting. That includes more than hacking and startups." Casper is a startup, and the valuation of startups and their IPO prospects are quite important to a lot of people on here. It is a short article, and there are probably slightly better ones out there, but all of the important information is in this article: the current range and valuation, the prior range and valuation, and the valuation at the last funding round. This tells you a lot. People post things from Twitter all the time that have even less.
vadym909 7y ago
I think it points to how the public markets are getting better or were always good at spotting when a mattress maker claiming to be Tech/Mattress as a Service doesn't justify the multiples. So the trend of high priced rounds meeting IPO reality continues.
mettamage 7y ago
Alrighty, thanks for showing that it's me. It happens.

Spooky23 7y ago

It implies the market is more skeptical of the transformational power of a standalone mattress maker. It's relevant to the HN community! You have a company that was valued over $1B during funding rounds that has seen that valuation cut in half. That's an example of how the rise of the mega-companies like Amazon and Walmart are suffocating new entrants. Your reinvention of the lounge chair probably won't be a startup now, when Amazon can have a knock-off pushed out the door in a couple of months.

dantheman 7y ago
To be clear, they don't actually make the mattress.

pottertheotter 7y ago

The HN guidelines say, "Anything that good hackers would find interesting. That includes more than hacking and startups." Casper is a startup, and the valuation of startups and their IPO prospects are quite important to a lot of people on here. It is a short article, and there are probably slightly better ones out there, but all of the important information is in this article: the current range and valuation, the prior range and valuation, and the valuation at the last funding round. This tells you a lot. People post things from Twitter all the time that have even less.

vadym909 7y ago

I think it points to how the public markets are getting better or were always good at spotting when a mattress maker claiming to be Tech/Mattress as a Service doesn't justify the multiples. So the trend of high priced rounds meeting IPO reality continues.

mettamage 7y ago

Alrighty, thanks for showing that it's me. It happens.