Purple

Founding Year: 2010

Stock Exchange: (PRPL) - NasdaqGS

What They Do: Purple, known for its innovative comfort technology in mattresses, pillows, and cushions, was founded in 2010 and became one of the publicly traded companies on the NASDAQ - under the ticker symbol PRPL in 2018.

Purple, also called as Purple Innovations, distinguishes itself in the consumer cyclical sector through its proprietary and patented hyper-elastic polymer technology, which is utilized across its diverse range of products, including mattresses, pillows, cushions, bases, and sheets.

Using proprietary and patented hyper-elastic polymer technology, Purple aims to enhance the consumer experience by combining unique material science with practical design. This technology integrates various commodity components such as polyurethane foam, oil, water-based adhesive, and other raw materials.

The company has grown significantly over the years, reporting a revenue of $575.7 million in the fiscal year 2022. Its success is driven by a commitment to innovation, quality, and customer satisfaction, as evidenced by its expansion into various product categories and operational growth to serve customers through ecommerce, retail partnerships, and Purple retail showrooms.