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Mattress Startup Purple Agrees to $1.1B Merger With Publicly Traded Investment Shell Company

Utah-based Purple will become the first publicly traded mattress startup when it completes a merger with a publicly traded investment shell company at a valuation of $1.1 billion. The deal will make Purple’s founders Tony and Terry Pearce very rich, with a stake in the new entity that Forbes estimates at $850 million. The Pearces, Mormon brothers with 44