Root, Inc. files for IPO.

IPO of Root, Inc. will take place on October 27, 2020. Root is a car insurance company that uses its proprietary technology to measure risks based on individual indicators. Using smartphones to measure driving characteristics such as braking, cornering speed, driving time and route regularity, Roote determines safe and unsafe drivers. Insuring only safe drivers, Root can offer more affordable rates for auto insurance.

The estimated value of the company after its IPO will be US$5.3 billion. 
Goldman Sachs, Morgan Stanley, Barclays, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities, Evercore ISI, Truist Securities, Cantor, JMP Securities and Siebert Williams Shank are listed bookrunners of the offering.