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Kylie (L) and Kendall Jenner at the 2019 Met Gala. Photo: Rabbani and Solimene Photography/WireImage

Mattress company Casper warned in its IPO filing Friday that social media influencers, used by the company as a marketing tool to boost brand recognition, could also pose a financial risk, the Financial Times reports.

Why it matters: The mattress-in-a-box brand is one of many that have taken advantage of the $8 billion influencer marketing industry through partnerships with celebrities like Kylie Jenner, who has more than 150 million Instagram followers. But those massive platforms come with risks, especially since the company can't control the non-branded content that influencers post.

  • "Influencers with whom we maintain relationships could also engage in behaviour or use their platforms to communicate directly with our customers in a manner that reflects poorly on our brand and may be attributed to us or otherwise adversely affect us," Casper noted.

The big picture: Regulators are also cracking down on the influencing industry. Both U.S. and U.K. officials are pushing influencers to more overtly identify sponsored posts and endorsements.

  • Casper said influencers could "subject us to regulatory investigations, class action lawsuits, liability, fines or other penalties."

Go deeper:

Go deeper

14 mins ago - Health

COVID cases and deaths keep falling

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

America’s coronavirus outbreak is rapidly improving as the Delta wave recedes, and vaccines for kids — which could become available within weeks — will help the situation improve even further.

By the numbers: Nationwide, the U.S. is now averaging about 79,000 new cases per day — a 22% drop over the past two weeks.

4 hours ago - Health

India crosses 1 billion COVID vaccinations milestone

A health worker inoculates a COVID-19 vaccine dose to a man wearing a face mask of Prime Minister Narendra Modi in Beawar, India, in September. Photo: Sumit Saraswat/Pacific Press/LightRocket via Getty Images

India's Prime Minister Narendra Modi announced Thursday that the country's health workers have now administered more than 1 billion COVID-19 vaccines doses.

Of note: While this is a significant milestone for the country of 1.4 billion, which has been devastated by the coronavirus, only about 30% of the eligible population has been fully vaccinated against the virus, per AP. Roughly 75% has received at least one dose.

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

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