The Journal Gazette
Saturday, January 11, 2020 1:00 am


Online mattress seller Casper Sleep files to go public

Staff, news services

NEW YORK – Online mattress pioneer Casper Sleep Inc. has filed regulatory paperwork to go public.

Casper said in a filing Friday with the Securities and Exchange Commission that it plans to use the proceeds to fund expansion. It listed a stock offering of $100 million as a placeholder, but that will likely change based on investor demand.

The company, founded in 2014, has expanded beyond online selling to opening 60 Casper stores and selling to 18 retail partners like Target and Amazon. It has also expanded beyond mattresses to pillows, sheets and dog beds. It currently operates in seven countries.

Still, Casper is losing money. For the first nine months ended Sept. 30, it had sales of $312.3 million. Net losses were $67.4 million during that nine-month period. The stock will be listed under “CSPR” on the New York Stock Exchange.

GM moves 148 temps to full time

General Motors on Friday said it converted 148 temporary employees this week to full time, addressing an issue that surfaced in recent contract negotiations and strike for the automaker.

“We are excited to welcome these employees as full-time team members at our plant,” the plant said in a statement. “GM expects to bring on additional temporaries as full-time team members in the future.”

In late October, a UAW Local 2209 leader said that the Allen County plant had 3,800 permanent employees and 700 temps.

Centier Bank to open 2nd city site

Centier Bank plans to celebrate the opening of its second Fort Wayne location with a ribbon-cutting ceremony at 2 p.m. Monday.

The Merrillville-based bank will open a branch at 803 S. Calhoun St., Suite 100, near the Allen County Courthouse. The bank did not respond to an inquiry about how much was invested to create the new location. Centier opened its first Fort Wayne location in 2016 at 10315 Dupont Circle Drive W. It has 63 Indiana branches.

Lawyer for Google parent to leave

David Drummond, the legal chief of Google parent company Alphabet, is leaving at the end of the month, after accusations of inappropriate relationships with employees.

Alphabet did not give a reason for Drummond's departure in a short regulatory filing Friday.

The company said in November that its board was investigating sexual misconduct cases against executives. Claims against Drummond were included in the investigations.

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