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## The Unicorn Class: Aspirations and Realities

The term "unicorn" in the business world references companies that have reached a valuation of over a billion dollars, signifying a level of success and desirability in private markets. In 2019, a flurry of high-profile IPOs including those of Lyft and Uber captured headlines, elevating the status of companies like Casper. However, the transition from a privately held unicorn to a publicly traded company has proven challenging, especially in Casper's case where it struggled to demonstrate consistent interest from potential buyers during its pre-IPO Roadshow.

## Casper's Financial Struggles