Casper: Philip Krim

How I Built This with Guy Raz

Guy Raz | Wondery

Business

4.8 • 31.1K Ratings

🗓️ 28 June 2021

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the early 2000's, Philip Krim launched an e-commerce business out of his college dorm, selling everything from window blinds to eczema cream to yes, mattresses. Years later, inspired by online successes like Warby Parker and Harry's, Philip and his partners launched Casper, a DTC company that designed its own mattresses, compressed them into boxes, and helped turn a mundane purchase into an Instagrammable adventure. Within months, sales began to take off; and soon, copycat brands crowded into the DTC mattress space, creating competition and buzz in a previously sleepy sector. (Pun unavoidable) Despite these challenges, Casper's valuation soared to $1 billion in 2019, only to shrink by half for its 2020 IPO. Today, Philip says he's focused on the future, with ambitions to build Casper into a one-stop-brand for all things sleep-related. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Hey, Prime members, you can listen to how I built this early and ad-free on Amazon Music.
0:07.0	Download the app today.
0:09.0	When you leave home, can you ever really go back?
0:12.0	Made a version!
0:13.0	Soccer legend Leo Messi and I both left Argentina as kids.
0:17.0	You know you're that piece of a puzzle that doesn't fit anywhere.
0:20.0	To so many immigrants, football is a way to reconnect.
0:23.0	Listen to the last cop in the embedded podcast feed
0:26.0	to hear the latest collaboration from MPR and Fuduro Studios.
0:33.0	I never expected to see so many competitors come at us from so many different angles
0:38.0	and that so many of them would just try to copy what we were doing and be fast followers
0:44.0	and really just take everything we were trying to be innovative with
0:48.0	and immediately buying a mattress online became even more overwhelming
0:52.0	and confusing than buying a mattress offline.
1:01.0	Prime and PR is how I built this.
1:03.0	A show of innovators, entrepreneurs, idealists and stories behind the movements they built.
1:12.0	I'm Guy Razz and on the show today, how Philip Creme helped transform the way we buy our beds
1:18.0	by building Casper, a brand that makes it easier to choose a mattress and more fun to take it out of the box.
1:30.0	Venture Capital has had a love affair with direct to consumer startups over the past decade.
1:36.0	Even though the vast majority of products you buy are sold through third parties,
1:41.0	the direct to consumer brand model has gotten a lot of attention.
1:45.0	I'm talking about peloton and all birds and Warby Parker and Bonobos even Tesla.
	...

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