Company info

Timeline

2008

JT and Daehee meet at Penn State

2012

JT has a terrible mattress buying experience

June

Waving flag JT and Daehee cut apart a mattress, dug into the supply chain and discovered that the markups of most mattresses are jaw-droppingly high

Fill an entire page with problems they find—call it "The Hate List™"

JT and Daehee quit jobs in Palo Alto to fix the mattress industry

Company is founded

Mattress prototyping begins

July

Move out to Phoenix, AZ

October

T&N Mattress T&N launches with $6000

JT and Daehee each invest $3000 of their own money—no outside investors

The company focuses on fixing complicated customer return policies; introduces Tuft & Needle no-hassle return policy

T&N pioneers selling a single universal model

December

Begins Free Trial and Donation Return programs

Social Mission is built into the fabric of our culture

2013

January

Profitable within 30 days of starting

October

Five stars Amazon customers bring consistent 5-star reviews

December

Money $1M T&N reaches $1 million in sales in first full year of business with no outside investor money

Hires first team member

2014

January

Fortune, CNN, and Fox acknowledge Tuft & Needle an "industry disruptor"

February

Andy Dunn, CEO of Bonobos, joins as advisor

April

First online competitor launches

May

Gizmodo names Tuft & Needle as "Product of the Future"

September

Shuts down "referral program" and ends all discounts—fair prices for all customers every day of the year

October

Entrepreneur publishes article “How Tuft & Needle Disrupted a Tired Mattress Industry”

Self-published article goes viral, “Why We Shut Down Our Viral Growth Campaign”

Store Opens first store in Phoenix

November

T&N Adaptive® Foam Launches new T&N Adaptive® Foam

December

Company grows sales to $9 million in second year of business—9x growth

Company grows to 13 people

2015

April

T&N's customer satisfaction scores (NPS) exceed those of great brands such as Apple, Nordstrom, Southwest and Costco

May

Dozens of investors from Silicon Valley and NYC reach out, but T&N decides to remain employee-owned

September

Annual calendar 365 T&N shuts down for four days to have 1st annual R&R team retreat

October

Mint-colored heart Tuft & Needle donates hundreds of mattresses to UMOM, a local charity in Phoenix

December

Money $40M Revenue reaches $40 million for the year

4 more competitors launch

The New York Times features T&N as a company that says no to discounts

Company grows to 80 people

2016

January

Even more investors reach out, but T&N still says "no"

Opens first stand-alone store in San Francisco

April

Hits 40,000 total reviews

Co-founders write article 'If You're Building A Startup You Need To Move To Phoenix (Not Silicon Valley)'

May

Pennant T&N launches &Pillow, their second product

November

JT Marino included in AZ Republic's 35 Under 35 List

2017

January

Opens third retail location in Scottsdale

February

T&N wins Entrepreneur's Company Culture Award (No. 1 in the large-sized company category)

July

T&N's School Gives Back Program launches nationally

September

Opens fourth retail location in Gilbert

October

T&N launches &Sheets, their third product

Opens fifth retail location in Seattle

T&N launches the &Protector, their fourth product

T&N launches &Frame, their fifth product, in Phoenix

November

Daehee is named one of Forbes 30 Under 30

December

JT and Daehee are included in the Recode 100 list

T&N closes their fifth year in business with $170 million in annual revenue

2018

February

Five new products are introduced, including the Mint Mattress, Pouch, Slatted Foundation, Box Foundation, and Metal Base.