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Buzzy mattress maker Casper is pitching itself as a tech company, just like WeWork did. Here why business experts are dubious. (AAPL, FIT)

Buzzy mattress maker Casper is pitching itself as a tech company, just like WeWork did. Here why business experts are dubious. (AAPL, FIT)
Rachel Murray/Getty Images



Online mattress company Casper tried to pitch itself as a tech company in its recently filed initial public offering paperwork.




Private investors have given it a tech-like premium, valuing it at $1.1 billion.




Public investors may well have a different take on the company, especially since it acknowledged in its IPO document that a "significant" portion of its business still comes from selling mattresses.




While it believes that technology products will spur its future growth, thus far, it only offers one tech gadget — a smart lamp.




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Casper's initial public offering paperwork had a familiar ring to it.
Yet again a company that, on its face would seem to have little in common with Google, Apple, or Microsoft, was trying to present itself as a tech company. Following in the footsteps of WeWork and Peloton, the online mattress company, in the paperwork it filed last week, mentioned "technology" or "technologies" dozens of times — more times than even WeWork did.
But business experts who spoke with Business Insider aren't buying it. And they doubt whether Wall Street investors will either.
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