Hey this is JT, Tuft & Needle co-founder. Firstly, thanks for all your support and please send any feedback or thoughts any time. I'm at jt@tn.com.
Since we started Tuft & needle in 2012, we've been bootstrapped and have been growing very fast while being profitable. We didn't view this merger as something that we needed to do. But it was something that we knew if done right and everything aligned with our goal of completely disrupting (converting it to being customer focused) the mattress industry from beginning to end, we would do it.
This wasn't a typical acquisition. Tuft & Needle combining with Serta Simmons was a merger operationally, legally, and financially. My co-founder Daehee and I structured the deal with Serta Simmons in such a way that we would have maximum impact towards accelerating the transformation of the industry. Daehee and I will be joining the executive team of the combined company, leading with the goal of both internal and external transformation. Our team in Phoenix will be not only be focused on growing Tuft & Needle, but also for dusting off Serta Simmons' other brands and implementing everything that we've learned and built to the other brands.
Regarding quality, what's really exciting for us is that through this merger we will be able to accelerate our product, feature and service roadmaps for Tuft & Needle. What we could do in 5 years we can now do it almost immediately. Specifically regarding quality and pricing, this is actually best case scenario for our customers, because we'll have access to more efficiencies to make our value and innovations even better.
Again, thanks for your support. This is going to take a lot of time and a lot of work. What we expected and hoped from our customers is cautious optimism that we can then validate and prove over the coming years that this merger was definitely the greatest step we could have taken for our customers and the market as a whole.
Since we started Tuft & needle in 2012, we've been bootstrapped and have been growing very fast while being profitable. We didn't view this merger as something that we needed to do. But it was something that we knew if done right and everything aligned with our goal of completely disrupting (converting it to being customer focused) the mattress industry from beginning to end, we would do it.
This wasn't a typical acquisition. Tuft & Needle combining with Serta Simmons was a merger operationally, legally, and financially. My co-founder Daehee and I structured the deal with Serta Simmons in such a way that we would have maximum impact towards accelerating the transformation of the industry. Daehee and I will be joining the executive team of the combined company, leading with the goal of both internal and external transformation. Our team in Phoenix will be not only be focused on growing Tuft & Needle, but also for dusting off Serta Simmons' other brands and implementing everything that we've learned and built to the other brands.
Regarding quality, what's really exciting for us is that through this merger we will be able to accelerate our product, feature and service roadmaps for Tuft & Needle. What we could do in 5 years we can now do it almost immediately. Specifically regarding quality and pricing, this is actually best case scenario for our customers, because we'll have access to more efficiencies to make our value and innovations even better.
Again, thanks for your support. This is going to take a lot of time and a lot of work. What we expected and hoped from our customers is cautious optimism that we can then validate and prove over the coming years that this merger was definitely the greatest step we could have taken for our customers and the market as a whole.