Purple Enjoys Successful 2017 with Rapid Growth and Multiple Award Wins

Purple experienced 271 percent growth in net revenue and named No. 3 fastest growing company in Utah, among other recognitions

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Purple

Oct 31, 2017, 08:07 ET

SALT LAKE CITY, Oct. 31, 2017 /PRNewswire/ -- Purple, a comfort technology company known for creating the "World's First No Pressure™ Mattress," experienced 271 percent growth in net revenue in 2017 and won several prestigious state and regional awards. These achievements underscore Purple's leading position as the comfort tech company creating superior products to help people sleep and sit.

Because of its rapid growth in revenue and sales, Purple is considered one of Utah's fastest growing companies. In 2017, Purple was named No. 3 out of 100 companies in the MountainWest Capital Network Utah 100. Utah Business also named Purple as No. 12 in its Fast 50, a list of the 50 fastest growing companies in the Beehive State. Founded and headquartered in Utah, Purple contributes significantly to the state's thriving economy, and also landed the No. 2 spot for Utah Valley 50's Startups to Watch.

"We're so happy and humbled that we've received these awards over this past year. We wouldn't be where we are today without our incredible team who make Purple's one-of-a-kind innovations and accelerated growth possible," said Sam Bernards, CEO at Purple. "Purple creates life-changing experiences for our customers by improving their sleep and comfort. We exist to solve these literal pain points, and we're excited that people continue to recognize our efforts and successes in doing so."

Purple has been profitable since early on, and this revenue success has only grown in recent years. In 2017, Purple reported $187 million in annualized net revenue. In addition, the company holds 65 granted and pending patents for its state-of-the-art comfort technology and has more than 11,000 five-star customer reviews.

This unparalleled progress is led by Purple's CEO Sam Bernards, who was a finalist in EY's Entrepreneur of the Year® 2017 Award in the Utah Region. Under Bernard's leadership, Purple has grown from a small group of 50 to more than 600 employees since the January 2016 launch of the Purple® mattress. While Purple started in a 90,000 square-foot manufacturing space, Bernards led the buildout of its manufacturing processes at a new world-class facility, and Purple now has more than 664,000 square feet of manufacturing space to keep up with demand.

Purple's other executive leadership are also considered visionaries in the industry. Purple's Chief Marketing Officer Alex McArthur was named Utah Business' 2017 CXO of the Year for his ability to turn mattresses into entertaining marketing campaigns. McArthur leads Purple's creation of viral videos like the raw egg test with Goldilocks, which have accrued more than 750 million views, and its social media strategy, which comprises 75 percent of all mattress social engagement.

For more information, please visit https://onpurple.com/.

About Purple
Purple is a leading comfort technology company, which designs and manufactures products to improve how people sleep and sit. It offers cushions, pillows, and other comfort products using its proprietary Hyper-Elastic Polymer® technology. All products are focused on founders Terry and Tony Pearce's vision to improve comfort. Purple continues to be a disruptor to the traditional mattress industry with its innovative products, packaging and shipping, direct-to-consumer sales, and generous trial and return policies.

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For additional assistance, journalists, investors and analysts may contact the following member of Purple's communications team:

Savannah Turk
Director of Communications
[email protected]
801-756-2600 ext. 244

SOURCE Purple