After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Health and safety regulations across the U.S. require families to provide clean beds for each of their kids. If they can't afford the beds, they risk losing kids to foster care.
A "bed-in-a-box" startup called Leesa Sleep wants to stop that from ever happening.
As a registered B-Corp., Leesa donates one mattress for every ten it sells to a family or individual in need, and plants a tree for every mattress it sells.
The startup's social minded approach to the mattress and bedding industry has attracted a new $23 million venture investment from big names in the world of social ventures, including Seventh Generation CEO John Replogle, and TOMS shoes founder Blake Mycoskie. Replogle will also serve as chairman of the board at Leesa.
"The U.S. mattress industry is over $14 billion per annum with room for several winners," Replogle told CNBC. "To grow in the next stage, the company will have to use sleep science and design to drive for better sleep. That's table stakes. But it helps that their core mission and brand resonates with consumers who shop beyond price."
According to Leesa co-founder and CEO David Wolfe, the startup plans to use its new funding for hiring, and to develop new sleep products including mattresses, pillows and proprietary materials that go into them.
While many "direct-to-consumer" brands sell their wares strictly via their own websites and showrooms, Leesa sells through its own site, a couple of "experimental" stores, and via Amazon.com as well as the wedding registry site Zola. Leesa is considering relationships with brick-and-mortar retailers as well.
Wolfe told CNBC that his company has focused on profitability per transaction, rather than profitability over the "lifetime" of a customer relationship. Prior to raising the new round of venture funding, Leesa was profitable.
The startup, which is based in Virginia Beach, Virginia, and manufactures its beds in the U.S., employs about 70 full-time today, and expects to hit $150 million in sales this year, its third full year in business. It generated $80 million in revenue last year.
Wolfe said that employees love working for Leesa in part because of its health benefits. Predictably, every new hire gets a new mattress from the company, and hopefully that helps them sleep better and perform better at work, Wolfe said. But Leesa also has a gym and personal trainers on-site daily to help employees get fit, which should also help them sleep better.