Zynga and LinkedIn Founders Try to Pitch Money-Losing Home Insurance Company to Investors
Posted on 03/05/2021
The homeowners’ insurance market is historically cyclical in nature and is highly regulated. Most insurance data sits with insurance companies, especially claims data. Hippo Enterprises Inc. is a home-insurance startup. Labeled as an insurtech play, Hippo Enterprises agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company has Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as lead directors. The SPAC deal values Hippo Enterprises at US$ 5 billion in enterprise value and Reinvent Technology Partners Z will be renamed Hippo Holdings Inc.