Photo: Rachel Murray/Getty Images for Casper Sleep Inc.

Upstart mattress maker Casper filed Friday for an initial public offering.

Why it matters: This will be the next public market test of a consumer products company that venture capitalists have arguably valued like a tech company.

The big picture: Casper reports a $67 million net loss on $312 million in revenue for the first nine months of 2019, versus a $64 million net loss on $260 million in revenue for the year-earlier period.

  • It has raised over $355 million in venture capital funding, most recently in early 2019 at a valuation just north of $1 billion. Investors include retailer Target.
  • The IPO filing lists a $100 million target raise, but that's likely a placeholder figure.
  • Morgan Stanley is listed as lead underwriter.

The state of play: The New York-based company, known for shipping mattresses inside of boxes, began as a direct-to-consumer e-commerce company, but has since opened 60 physical stores.

Editor's note: An earlier version of this story had an incorrect figure for 2018 revenue.

Go deeper: 2019's IPO misery

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Roger Marshall wins Republican Senate nomination in Kansas primary

Rep. Roger Marshall. Photo: Mark Reinstein/Corbis via Getty Images

Rep. Roger Marshall won the Kansas Republican Senate primary on Tuesday evening, beating former Secretary of State Kris Kobach and a slew of other candidates, AP reports.

Why it matters: Following GOP Sen. Pat Roberts' retirement announcement, some Republicans worry that if Kobach won the primary it would endanger the party's chances of keeping the seat and maintaining a majority in the Senate.

Updated 2 hours ago - Politics & Policy

Primary races to watch in Arizona, Kansas, Michigan, Missouri, Washington

Photo: Michael B. Thomas/Getty Images

Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 18,448,084 — Total deaths: 698,023 — Total recoveries — 11,048,174Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,765,170 — Total deaths: 156,668 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.