Helix Sleep raised a seed round of just under $1 million
Adam Tishman · EP 399: $1m+ Mattresses Sold using Toptal.com with Adam Tishman of HelixSleep · Aug 27, 2016 · at 10:16
Helix Sleep co-founder Adam Tishman reveals the size of the mattress startup's seed funding to Nathan Latka.
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“The seed round was just sub a million dollars.”
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More from Adam Tishman
Helix Sleep considers traditional physical retailers its primary competitors, not online brands
“Our biggest competitor are the people think it's the online players, but it's honestly the, it's sort of the traditional retailer. So sleepies mattress.”
Traditional retailers sell mattresses with $200-$500 manufacturing costs for $3,000
“What you see in the traditional retail world is markups can range from multiple hundred percent markups. So what costs anywhere from two to four or 500 dollars to make could be sold at a retail store for 3000 dollars.”
Audio advertising works well for non-impulse, long-lead mattress purchases
“I think when you think about our category, it's a longer term, longer lead purchase. So people, you know, it's not an impulse driven purchase and it's also something that you're not really buying unless you're in the market for it. And so we find audio to be a…”
Helix Sleep charges $900 for a mattress retailing up to $3,000
“And so whether you get a firmer mattress, a softer mattress, a more supportive one from us, We charge the same price to the consumer, which is for a queen size, 900 dollars. That product at a retail store would cost closer to two to 3000 dollars, so we're real…”