Live Update 
From the Liveblog of
Thursday, July 2, 2020
From the Liveblog of
Thursday, July 2, 2020
Insuretech firm Lemonade swiftly doubles in price after IPO
Add ToI as a Preferred Source on GoogleIsrael-founded insurance unicorn Lemonade has begun trading on the New York Stock exchange and is finding itself a darling among investors, swiftly jumping to $66 a share from its initial offering of $29.
The firm, founded in 2015, says it seeks to revolutionize the way homes are insured by moving all of its activities online and using artificial intelligence to match customers with policies.
The market valuation of the IPO was less than the $2.1 billion the firm was valued at last year, after it raised $300 million in a private funding round led by Japan’s SoftBank, which owns a 27.3% stake in Lemonade.
The stock is currently at $64.31.
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