Start-Up Nectar Made $35 Million in Revenue During Their First Year
The mattress industry is estimated to be worth around $15 billion. So it's no surprise that there are countless mattress and box mattress companies vying for a piece of the pie. What actually is surprising, is that start-up Nectar did $35 million in revenue their first year.
Craig Schmeizer, co-founder of Nectar, joins Cheddar to explain why his company has been so successful. He said Nectar uses big data to better understand what the consumers want out of their mattress and mattress shopping experience. Nectar offers a one-year trial period because Schmeizer is convinced once consumers test their product, they will be pleased.
Schmeizer is bullish on the future of the mattress market because he says consumers will continue to need new mattresses at the turning points of their life. He also weighs in on the egg drop test that other companies use to show the stability of their mattresses. Schmeizer says Nectar's product speaks for itself.
President Donald Trump wants his “big, beautiful” bill of tax breaks and spending cuts on his desk to be singed into law by Independence Day. And he’s pushing the slow-rolling Senate to make it happen sooner rather than later. Trump met with Senate Majority Leader John Thune at the White House early this week and has been dialing senators for one-on-one chats, using both the carrot and stick to encourage them to act. But it’s still a long road ahead for the bill. Senators want to make changes to protect Medicaid and to make sure some tax breaks become permanent. Elon Musk called the whole bill a "disgusting abomination.”
