2) Since going public, Purple has grown faster than Casper and now generates cash vs. Casper still burning $65mish or 20%ish of revenue YTD. Ironic that Purple has outgrown Casper after going public given the prevailing logic around the benefits of staying private for growth.
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3) Discipline is powerful. Purple was significantly smaller than Casper when it went public in 2017. Fast forward to 2020: Purple will likely be both larger and faster growing than Casper as being profitable lets Purple continue to invest while Casper focuses on costs.
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4) It’s one thing for a board of VCs to tell a founder they need to get religion on unit economics and profitability. It’s another thing entirely to see your stock decline and talented employees leave. That really focuses the mind. Sidenote: Casper’s board actually quite good.
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5) Purple’s stock went straight up when the Casper S-1 came out. Purple’s revenue growth accelerated from 36% in Q2 2019 to 66% in Q3, almost 3x faster than Casper in Q3 of 2019 as Casper slowed down spend; likely helping Purple’s CAC given the way the AdWords etc. auctions workpic.twitter.com/Svuz55MoKw
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6) Initially avoided commenting on Casper as I don’t like pile on’s, but the numbers here really show the benefits of being public. I hope Casper succeeds – habits are hard to change but going public will be great for them and my sense would be that they have the best brand.
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7) Should also note that Purple has a very different distribution strategy and sells at a higher price point - learned this from my replies.
Twitter.
Also highly recommend following @Post_Market who made me aware of Purple’s relative success.Prikaži ovu nit
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"we don’t compete with Casper. They’re selling mostly $600 and $700 mattresses. We’re selling mostly $1,500 and $2,000 mattresses. We’re not really competing for the same customer. This is more of a premium play."https://news.google.com/articles/CBMiT2h0dHBzOi8vd3d3LmJhcnJvbnMuY29tL2FydGljbGVzL2Nhc3Blci1pcG8tcml2YWwtcHVycGxlLW1hdHRyZXNzZXMtNTE1Nzk4MTkxNjLSAVNodHRwczovL3d3dy5iYXJyb25zLmNvbS9hbXAvYXJ0aWNsZXMvY2FzcGVyLWlwby1yaXZhbC1wdXJwbGUtbWF0dHJlc3Nlcy01MTU3OTgxOTE2Mg?hl=en-US&gl=US&ceid=US%3Aen …
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Good to know. Thank you for sharing.
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Why is Purple’s CAC better than Caspers? Feels like Adwords would be basically efficient.
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Lower auction pressure leads to a lower CAC for both Purple and Casper.
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Čini se da učitavanje traje već neko vrijeme.
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