 | This articlecontainspromotional content. Please helpimprove it by removingpromotional language and inappropriateexternal links, and by adding encyclopedic text written from aneutral point of view.(September 2019) (Learn how and when to remove this message) |
 | |
| Company type | Brand |
|---|---|
| Industry | |
| Founded | July 19, 2012; 13 years ago (2012-07-19) |
| Founders |
|
| Headquarters | , U.S. |
Number of locations | 7 stores (2018) |
Area served | United States |
| Products | Mattresses |
| Revenue |  $170M (2017) |
| Owner | Serta Simmons Bedding |
| Website | www |
Tuft & Needle is an American bed-in-a-box company that launched in 2012.[1] On September 28, 2018, the company was acquired bySerta Simmons Bedding.[2]
Tuft & Needle started as ane-commerce company founded on July 19, 2012 by Daehee Park and John-Thomas Marino.[3] They Both met via theentrepreneur program atPennsylvania State University.[4]
The company generated $1 million in sales at the end of 2013.[5] The company later opened its first brick andmortarshowroom in the company'sPhoenix headquarters in December 2014.[6][7]
Tuft & Needle acquired 'TN.com' domain in September 2015. The company established its headquarters atO.S. Stapley Hardware buildings on Grand Avenue in Phoenix in December of 2015, after a citygrant of $300,000 was used to improve and repair the buildings by areal estate developer.[8] In 2015, Tuft & Needle grew to over 100 employees and earned over $100 million in revenue.[citation needed]
After turning down investment offers fromventure capital investors, Park and Marino took out a $500,000 loan from Bond Street in 2016.[9] In 2016, the company launched a national billboard campaign entitled "Mattress Stores Are Greedy."[10]
In 2017, the company had $170 million in sales.[11] Tuft & Needle spent over $14 million in media during the same year.[12]
On September 28, 2018, Tuft and Needle closed a merger with mattresses manufacturerSerta Simmons Bedding.[13][11] In November 2018, they also announced a partnership withAmazon to release an Amazon-exclusive mattress called "The Nod." by Tuft & Needle.
On January 23, 2023, Serta Simmons Bedding filed forChapter 11 Bankruptcy.[14]
As of January 2019, Tuft & Needle operates seven retail stores in Scottsdale, Gilbert, Seattle, Kansas City, Raleigh, Portland, and Dallas.[15] Their products are also stocked at selectLowe's,Crate & Barrel[11] and Walmart locations across the United States.[15][16]