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Root Priced, Nasdaq: ROOT

Provides auto insurance using mobile-based telematics technology.

Industry: Financials

Latest Trade: $10.32 +0.10 (+1.0%)

First Day Return: 0.0%

Return from IPO: -62.1%

Industry: Financials

Root is a technology company revolutionizing personal insurance with a pricing model based upon fairness and a modern customer experience. We 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 -- we use technology to measure risk based on individual performance, prioritizing fairness to the customer. The way we design and deliver insurance is not a simple tweak to the traditional insurance model -- we are fundamentally reinventing insurance through technology, data science and a maniacal focus on the customer. While our opportunity is expansive and our ambition is global, our story begins with US auto insurance. Auto insurance is required for the vast majority of drivers in the US and we believe it is typically the first insurance policy purchased by consumers. As a result, our auto-first strategy establishes the foundation for an expansive lifetime relationship with the opportunity to add other personal insurance lines as customer needs evolve. Our strategy has also established the technological foundation for an enterprise software offering, diversifying our revenue streams over time.
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IPO News for Root
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IPO Data
IPO File Date 10/05/2020
Offer Price $27.00
Price Range $22.00 - $25.00
Offer Shares (mm) 26.8
Deal Size ($mm) $724
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/27/2020
Offer Price $27.00
Price Range $22.00 - $25.00
Offer Shares (mm) 26.8
Deal Size ($mm) $724
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Columbus, OH
Founded 2015
Employees 901
Website www.joinroot.com