How Casper Dealt With Selling Out of Its Only Product in One Day
Neil Parikh, co-founder and COO of Casper, an online mattress company, faced his first major obstacle in business almost immediately. “We only had 50 mattresses on hand and sold $100,000 in our first day,” he says in a video.
The company needed to provide temporary solutions for customers, and fast. “We had everyone from a pregnant mother to an 80-year-old woman that hadn’t slept on anything but an armchair for a year because of surgery,” Parikh says.
The team came up with two solutions. The first was to go to manufacturers and help them scale the manufacturing process. The second was to send air mattresses to customers who were waiting.
Thanks to these solutions, the team was able to catch up on manufacturing the mattresses and has grown into a company that is reportedly valued at more than $500 million.
Check out the video to hear the whole story.