IncSmart Utah (Small Business and Startups)
- Utah based Purple,
will become the first publicly traded mattress startup. After they complete a merger with a publicly traded investment shell company, they will have a a valuation of $1.1 billion dollars. The company Purple was a small business startup in January 2016. The shell company called GPAC went public in July 2015. They soon began looking for acquisition targets, and Purple made the growth possible.
Purple is located in Grantsville Utah. The population of 9,617. They currently work out of a giant new factory in rural Tooele County. With the IPO, Purple will begin its expansion, and its goal for $2 billion in sales. Last year, Purple went from 30 employees to 600, with plans to hire an additional 1000 people. Purple is also partnering with local high schools and training facilities to provide locals residents the skills the need to work in with the company in the future. Working out of the 574,000 square foot plant, Purple will soon be the largest employer in Grantsville.
By IncSmart Staff Writer
Starting a Business in Utah
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Utah Corporations and Utah Limited Liability Companies. When you call, email, instant message or live chat with our office, expect personal attention. We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place. #incsmart
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