Mattress company Casper's valuation has been cut in half in the span of 1 year

Casper.
(Image credit: Rachel Murray/Getty Images for Casper Sleep Inc.)

That didn't go as planned.

Casper Sleep Inc., a New York-based startup which sells mail-delivered foam mattresses, cut the expected price range for its initial public offering from between $17 to $19 per share to between $12 and $13, The Wall Street Journal reported Wednesday.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.