Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Casper, a New York-based direct-to-consumer bedding products retailer, has raised $170 million in Series C funding. Target Corp. led the round, after reportedly having been in earlier talks to acquire Casper outright. Other investors include Tresalia Capital, Lerer Hippeau Ventures, Norwest Venture Partners, Institutional Venture Partners, NEA, Irving Capital and individual angels like 50 Cent, Kevin Spacey, Carmelo Anthony and Andre Iguodala.
Why it matters: Because it's the latest example of the rapidly converging e-commerce and physical retail worlds, following last Friday's Amazon/Whole Foods and Walmart/Bonobos deals. For Casper, it's about gaining consumer visibility. For Target, it's about better understanding direct-to-consumer selling via digital.
Remember: Casper may sell via online channels, but it's still much more of a retail company than a tech company.
Top-line: Casper reports more than $200 million in revenue for 2016, compared to around $100 million for 2015.
Bottom line: "The reality that we face is that a vast majority of people don't know that we exist." ― Casper CEO Philip Krim to the NY Times.
Giphy