Tuft and Needle was founded in 2012 as an e-commerce and mattress manufacturing company by Daehee Park and John-Thomas Marino. After Marino and his wife overpaid for a mattress that they didn’t find comfortable, they spoke with friend Daehee Park about starting their own mattress company.
The pair pitched in $3K apiece to fund their startup company. By the end of 2013, the company had already generated over $1 million in sales. A brick and mortar store was experimented with by using the downstairs portion of the corporate office in Phoenix. Mattresses could be seen, inspected, and purchased by appointment only. Today, the company has 6 store locations.
By the end of 2015, the company had more than 100 employees and exceeded $100 million in revenue. Park and Marino took out a $500,000 loan in 2016 to launch a billboard campaign entitled “Mattress Stores are Greedy” By the end of 2017, the company had more than $170 million in revenue.
The company revealed in late 2019 that it had accidentally placed customers’ names, addresses, and phone numbers on an unsecured server that printed shipping labels. No financial information was released.
Tuft and Needle maintains its corporate office in Phoenix, Arizona.