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home / news releases / RTPZ - Reinvent Technology Partners Z to buy insurance platform Hippo at $5B valuation

RTPZ - Reinvent Technology Partners Z to buy insurance platform Hippo at $5B valuation

Reinvent Technology Partners Z Class A
Online insurance platform Hippo Enterprises announced agreement Thursday to go public via a SPAC deal with Reinvent Technology Partners Z (RTPZ) that values Hippo at some $5B.Hippo sells homeowners insurance to consumers using machine learning and other cutting-edge tools to help with underwriting, allowing the company to give potential customers price quotes within five minutes.The company currently operates in 32 U.S. states and expects to be in even more by year’s end.Hippo expects to have about $1.2B in cash after merging with the special purpose acquisition company.

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Reinvent Technology Partners Z to buy insurance platform Hippo at $5B valuation
Stock Information
Company Name: Reinvent Technology Partners Z Class A
Stock Symbol: RTPZ
Market: NYSE
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