3 lessons from Root’s IPO pricing – TechCrunch
Per its S-1 filings, both Dragoneer and Silver Lake will purchase $250 million of Root stock at the IPO price once the IPO has closed. Root will therefore raise north of $1 billion in its IPO, once all shares sold are counted. For the Midwest, Ohio-based Root’s IPO is a win. For the broader insurtech space, Root’s IPO is a win. Key from Root’s IPO is the fact that we can now see insurance revenue being treated similarly to software revenue.