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Root, Inc. (ROOT)

Sector - Financials

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IPO Profile

About company

Root is a technology company revolutionizing personal insurance with a pricing model based upon fairness and a modern customer experience. They have built a company that recognizes each individual is unique and puts customers in control, rewarding them for their actions. For centuries, traditional insurance companies have grouped people into risk pools and long relied on the law of large numbers to produce acceptable pricing on an aggregate basis. Fairness at the individual level has been largely ignored. Root is different -- they use technology to measure risk based on individual performance, prioritizing fairness to the customer. The way they design and deliver insurance is not a simple tweak to the traditional insurance model -- they are fundamentally reinventing insurance through technology, data science and a maniacal focus on the customer. While their opportunity is expansive and their ambition is global, their story begins with US auto insurance. Auto insurance is required for the vast majority of drivers in the US and they believe it is typically the first insurance policy purchased by consumers. As a result, their auto-first strategy establishes the foundation for an expansive lifetime relationship with the opportunity to add other personal insurance lines as customer needs evolve. Their strategy has also established the technological foundation for an enterprise software offering, diversifying their revenue streams over time.
Industry
Insurance - Auto, Home & Renters - Property & Casualty
CEO CFO
Alexander Timm Daniel Rosenthal
Employees Founded
901 2015

Contacts

Address: 80 E. Rich Street, Suite 500 Columbus, Ohio 43215

Telephone: (866) 980-9431

Web page: http://www.joinroot.com

IPO information

Expected Date 10/28/2020
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Financial Data (last reporting year)

Market Cap (MM) $5872.65
Revenues (MM) $290.2
Net Income (Loss) (MM) $-282.4

Voting

What do you think will happen with the ROOT share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

Number of votes: img
Shares Initial (MM) 24.1
Shares Revised (MM) 26.8
Expected offer amount (MM) $578.1
Realized offer amount(MM) $723.6
Underwriters
Goldman Sachs/ Morgan Stanley/ Barclays/ Wells Fargo Securities/ Deutsche Bank Securities/ Truist Securities/ Citigroup/ Credit Suisse/ Evercore ISI/ UBS Investment Bank
CO-Managers
Cantor/ JMP Securities/ Siebert Williams Shank/ Huntington Capital Markets

Sector: Financials

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