From $200M to $725M: Purple’s Revenue Skyrockets
SITUATION
Purple Innovation was a small mattress and pillow company with a strong intellectual property portfolio. The founders invented, patented, and started producing innovative products unlike anything else on the market.
COMPLICATION
Purple did not have the financial or managerial resources to achieve its growth objectives and was quickly running out of cash.
RESOLUTION
In early 2017, Purple’s founders partnered with Eaglepoint partners, investment bankers and financial sponsors to fund its growth plan and to help recruit the right leaders to take the company to the Next Level. Purple Innovation became a public company in February 2018.
RESULTS
Purple grew to over $700M in sales in four years, becoming one of the most successful start-ups in the mattress industry’s history. Sales revenue grew from $197M in 2017 to $286M in 2018, $428M in 2019, $649M in 2020, and $726M in 2021. The initial public offering stock price grew from $10/share to over $40/share by early 2021.
