In the latest episode of Master of Your Domain, Rob Schutz, co-founder of Snagged, sat down with Philip Krim, co-founder of Casper and current CEO of Montauk Climate, to discuss the story behind acquiring the coveted Casper.com domain. The conversation highlights the ups and downs of building a brand and the vital role a domain name can play.
Naming a Startup: A Collaborative Struggle
Before Casper became the mattress company we know today, Krim and his four co-founders faced an unexpectedly challenging task—naming the company. With five different perspectives, it was an intense process. As Krim described, naming a business is a bit like naming your child; you’ll have to live with it forever. Early brainstorming sessions were "vitriolic," filled with passionate debate, but the co-founders knew they had to align on a name before moving forward.
“We were working with a branding agency, Red Antler, which helped us stay level-headed,” said Krim. The agency assisted them in navigating what could have been a chaotic process. At one point, they almost went with the name "Dukes" but ultimately settled on "Casper"—a choice that, while not an immediate consensus, felt right after some reflection. The company began as CasperSleep.com because Casper.com was already taken by someone else.
The Hunt for Casper.com
Acquiring the Casper.com domain was not a simple task. As it turned out, the domain had been owned since 1998 by Gary Casper, a guy based out of Houston who had a very specific goal—he wanted to buy a boat. Despite Krim’s own Houston roots, hometown advantage didn’t help negotiate the price. Gary set his asking price from the start and stuck with it.
Krim recounted how the co-founders initially couldn't afford the domain pre-launch. However, Gary remained fair throughout the process, never jacking up the price as Casper’s success began to grow. After their Series A fundraising round, the co-founders bit the bullet and made the investment, securing Casper.com for good.
Was it Worth It?
Reflecting on the decision, Krim called it a “no-brainer.” He noted that a domain name is one of the key touch points for building a brand. Whether it’s seen on an ad or typed into a browser, the domain carries a lot of weight in shaping how customers perceive the brand.
While the Casper team debated if spending so much on a domain was worth it, Krim emphasized that, in the long term, small touch points like a premium domain name contribute to the brand’s overall value. “Consumers are inundated with information, so anything you can do to make it easier for them to find you and remember you is worth the investment,” Krim explained.
The Role of a Strong Domain in Brand Building
For Casper, the domain name became one of many strategic moves that positioned the company for success. In their first month of operation, Casper raked in $1 million in sales, and the company continued to raise substantial capital, including a $13.1 million Series A. With that kind of momentum, the decision to invest in a high-quality domain like Casper.com paid off, even though it was difficult to quantify its immediate impact.
Krim pointed out that founders often face tough choices between spending on intangible assets like domain names and focusing on more pressing operational needs. He acknowledged that the decision to invest in a premium domain depends on a company’s stage and long-term vision. “We wanted to build a category-defining, generational brand. If that’s your ambition, then take the swing early and invest in the right assets,” Krim said.
Becoming a Household Name
In the end, acquiring Casper.com was just one part of Casper’s broader strategy to become a household name. As Krim emphasized, building a brand is about optimizing every touchpoint, and a domain name plays a significant role in that journey.
For aspiring founders, Krim offers a key takeaway: if you’re serious about building a brand with lasting impact, making strategic investments in assets like a domain name can have long-term dividends. As he put it, "If you want to be a brand, your domain name is a big touchpoint.”
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