Target (TGT) - Get Report 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.

Shares of Target were higher during midday trading on Thursday.

Stocks have rebounded following a sharp sell off last week. Jim Cramer believes the rebound is real and gives investors advice on how to play the market going forward.