Target Investing $75 Million In Casper Sleep
Target (TGT) today finalized a $75 million investment in Casper Sleep, a privately held mattress firm, as a part of a funding round that will amass $100 million or more, Recode reports.
The investment follows reports earlier this week saying that the Minneapolis-based retailer had failed to come to an agreement on an outright purchase of Casper.
Target had offered $1 billion to buy the company.
Casper, valued at $550 million following its last private investment in 2015, generated $200 million in sales in 2016.
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