Casper IPO valuation dwindles from peak of $1 billion

Casper Sleep Inc, the online mattress retailer whose investors include actor Leonardo DiCaprio and rapper 50 Cent, expects its initial public offering valuation to be well below the roughly $1 billion it commanded in the last funding round. In a regulatory filing on Monday, the company said it expects the offering of 9.6 million shares to be priced between $17 and $19 per share. At the top end of the range, the IPO will raise $182.4 million and give the firm a valuation of $768 million. Casper was valued at $1.1 billion in March 2019 following a fundraising round. The offering will test investor appetite for money-losing companies following WeWork’s IPO debacle late last year.