HOUSTON, Texas—Somnum Bene Holdings LLC, the holding company of cpap.com, a direct-to-consumer provider of sleep apnea products and solutions, announced the appointment of Joe Megibow as its new chief executive officer. Megibow replaces co-founder Johnny Goodman, who will transition to an active board role. This leadership appointment comes as the company, backed by global investment firm Cathay Capital, accelerates its efforts to expand in the sleep health and wellness market.
“I am thrilled to join cpap.com and work alongside a talented team that has built an industry leading, mission-driven business,” said Megibow. “Having already worked across two sleep companies, I’ve learned how critically important sleep is to human health. With over 30 million people affected by sleep apnea in the U.S. alone, approximately 80% of whom are still undiagnosed, there is enormous opportunity to both grow our business, while meaningfully improving many lives. Together, we will build on the company's strong foundation of exceptional service to significantly expand our reach in providing innovative sleep products for our customers.”
Megibow brings over two decades of experience in online and brick and mortar consumer businesses, with experience in the growing sleep economy. Most recently, he served as CEO of Casper Sleep and Bright Cellars, leading both companies through periods of results that led to successful exits. Megibow previously served as CEO of Purple Innovation, driving digital growth, launching wholesale and owned retail brick and mortar and expanding market share for the comfort technology company.
Megibow’s background extends beyond CEO roles. He currently serves as a board director at Lamps Plus, the largest D2C lighting retailer in the United States, and was previously a board director of Red Lion Hotel Corporation. Other notable past roles include SVP, chief digital officer at American Eagle and VP & general manager at expedia.com.
“Joe is a proven leader with a deep understanding of digital and omnichannel commerce, while being an expert in consumer-centric strategies,” said Mark Woods, partner at Cathay Capital. “His track record of driving growth, digital innovation and transformative leadership across multiple high-profile companies makes him the ideal person to lead cpap.com into its next chapter as the company looks to unlock broader opportunities within the sleep economy.”
In his new role, Megibow will focus on expanding cpap.com's product offerings, enhancing customer experience and leveraging artificial intelligence and analytics to better serve the large, unmet need for obstructive sleep apnea treatment and products that help put sleep at the center of health.
“Cpap.com has guided over 2 million people to healthy sleep,” said co-founder, former CEO and board member Johnny Goodman. “I’m thankful to our customers, proud of our impact and honored to have built alongside this team. Joe’s amazing professional history, shared values and shared vision mean we are in good hands. I’m excited to support Joe from the board as he leads us into our next phase of growth.”