A ‘Unicorn’ in is a company that gets a billion dollar valuation. Mattress startup, Casper, was once considered a Unicorn. Well, they announced their IPO price and valuation at of $490 million, less than half of what a Unicorn is valued at.
At this new valuation, Casper will raise about $115.2 million, about $60 million less than originally expected. Casper has yet to make a profit in the every competitive online mattress space.