Metromile, Inc. (MILE)
After hours: 04:53PM EDT
Chart Events
Performance Outlook
| Previous Close | 7.17 |
| Open | 7.18 |
| Bid | 7.50 x 1100 |
| Ask | 7.72 x 1300 |
| Day's Range | 7.18 - 7.72 |
| 52 Week Range | 6.48 - 20.39 |
| Volume | 779,720 |
| Avg. Volume | 1,622,390 |
| Market Cap | 948.009M |
| Beta (5Y Monthly) | N/A |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | N/A |
| Earnings Date | May 17, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | N/A |
- Bloomberg
‘Shark Tank’ Judge’s SPAC in Talks to Merge With Insurer
(Bloomberg) -- Home-coverage startup Kin Insurance is in talks to go public via Omnichannel Acquisition Corp., a special purpose acquisition company led by recurring “Shark Tank” guest judge Matt Higgins, according to people with knowledge of the matter.The combined entity is set to be valued at over $1 billion, one of the people said. Terms could change and as with all transactions that aren’t yet finalized, it’s possible talks could collapse. A deal, if agreed, could be announced next month, one of the people said.Representatives for Omnichannel and Kin declined to comment.Chicago-based Kin says it offers affordable coverage in “catastrophe-prone” regions including California, Florida and Louisiana directly to consumers online. It is led by co-founders Sean Harper, the chief executive officer, and Lucas Ward, who is president and chief technology officer.Kin raised $63.9 million in a recent funding round from investors including Senator Investment Group, Hudson Structured Capital Management, the University of Chicago’s startup investment program, Allegis NL Capital and Alpha Edison. Earlier backers include August Capital and Commerce Ventures.The insurer recently said it surpassed $100 million in annual recurring premium after just 21 months as a carrier in an industry that still sees more than 90% of home coverage sold through brick-and-mortar agencies.Omnichannel, led by Higgins -- an executive fellow at Harvard Business School -- in November raised $206.5 million in an initial public offering. The company’s website says it’s seeking a $1 billion to $2.5 billion acquisition, which it has defined in filings as including direct-to-consumer services. Beauty entrepreneur Bobbi Brown is on the SPAC’s board.Higgins is also CEO of RSE Ventures, an investment firm that has made bets on companies including David Chang’s Momofuku, Bluestone Lane and & Pizza on behalf of billionaire Stephen Ross. Higgins is also a vice chairman of the Miami Dolphins, of which Ross is a co-owner alongside Serena and Venus Williams, among others.Another so-called insuretech company, Hippo Enterprises Inc., in March agreed to go public via a SPAC. MetroMile Inc. in February became a public company after merging with a SPAC.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
- GlobeNewswire
Metromile and Hippo Partner to Offer Consumers Protection for Home and Auto
Leading insurtechs to provide consumers with increased convenience, flexibility and additional discounts with an auto and homeowners insurance bundleSAN FRANCISCO, May 17, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, and Hippo Insurance Services, a member of the Hippo group which is leading a new standard of care and protection for homeowners, today announced they will partner to offer consumers modern auto and homeowners insurance with a new multi-policy discount. Drivers and homeowners will be able to purchase pay-per-mile auto insurance and homeowners insurance from Metromile and Hippo, respectively, and save up to 15% on their auto and homeowners insurance policies when bundled. The combination of Hippo’s comprehensive home insurance policies with proactive protection and Metromile’s real-time, personalized auto insurance policies will bring consumers more ways to save on their premiums. Through the partnership, Metromile drivers and Hippo homeowners will be able to insure their home, personal belongings and vehicles and benefit from advanced smart devices and technology. “Offering choice and control are central to who we are and what drivers have come to expect from us. The addition of homeowners insurance through Hippo provides drivers with new options, greater flexibility and a new way to save,” said Metromile Chief Executive Officer Dan Preston. “We are excited to partner with Hippo, as they, too, are creating more value as a digital-first insurer using real-time data and technology to meet the needs of today’s consumers.” Hippo provides homeowners with access to smart home devices and a protective home insurance platform that better protects homes and offers access to premium discounts on home insurance policies. Home maintenance is a cornerstone of Hippo’s platform that includes smart home devices, homeowner education and proactive alerts enabled by AI and data. Consumers are increasingly choosing insurance companies based on customer experience and service. Insurance consumers rate digital features, including fully approved and settled claims and smart technologies highest, according to the 2020 J.D. Power auto and homeowners insurance studies. “We look forward to partnering with Metromile to offer our customers auto protection that’s blending the best of technology with top insurance coverages, just as we are on the home insurance side, to bring customers the best possible coverage and experience possible,” said Hippo President Rick McCathron. Drivers and homeowners will be able to bundle Metromile auto insurance with Hippo homeowners insurance in Arizona, California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia and Washington state once the partnership launches. Later this year, the partnership will expand to additional states. Forward-Looking Statements The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “expect,” “possible,” “will,” or the negative of such terms or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding our expectation that we will expand our bundle to Metromile and Hippo customers to additional states and the expected benefits. Any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed or implied by such forward-looking statements. These and other important factors are discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Registration Statement on Form S-1 and Current Report on Form 8-K, each filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2021, and in our other filings with the SEC. While we may elect to update or revise such forward-looking statements at some point in the future, we disclaim any obligation to do so. About MetromileMetromile (NASDAQ: MILE, MILEW) is a leading digital insurance platform in the United States. With data science as its foundation, Metromile offers real-time, personalized auto insurance policies by the mile instead of the industry’s reliance on approximations that have historically made prices unfair. Metromile’s digitally native offering is built around the modern driver’s needs, featuring automated claims, complimentary smart driving features and annual average savings of 47% over what they were paying their previous auto insurer. In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world. This cloud-based software as a service enables carriers to operate with greater efficiency, automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees. For more information about Metromile, visit www.metromile.com and enterprise.metromile.com. About HippoHippo Insurance Services offers a different kind of home insurance, built from the ground up to provide a new standard of care and protection for homeowners. Our goal is to make homes safer and better protected so customers spend less time worrying about the burdens of home ownership and more time enjoying their homes and the life within. Harnessing real-time data, smart home technology, and a growing suite of home services, we are creating the first integrated home protection platform. Hippo is headquartered in Palo Alto, California, with offices in Austin and Dallas, Texas, and insurance products available to more than 70 percent of U.S. homeowners in 34 states. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various insurance companies. Products and discounts vary by state and may not be available in all states. For more information, including licensing information, visit www.hippo.com. Contacts Metromile Public RelationsRick Chenpress@metromile.com415-676-7744 Metromile Investor RelationsGarrett Edson ir@metromile.com 646-677-1889 Hippo Public RelationsCourtney Klostermanpress@hippo.com
- GlobeNewswire
Metromile Announces First Quarter 2021 Results
SAN FRANCISCO, May 17, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (“Metromile”) (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced financial results for the first quarter 2021 in its shareholder letter. The letter is accessible on Metromile’s investor relations website at ir.metromile.com. Metromile will hold a conference call to discuss the results at 5:00 pm ET / 2:00 pm PT. A live webcast of the conference call will be available on Metromile’s investor relations website at ir.metromile.com. The dial-in number for the conference call is (877) 407-0789 (toll-free) or (201) 689-8562 (international). Please dial the number 10 minutes prior to the scheduled start time. A webcast replay of the call will be available at ir.metromile.com for 90 days following the call. About Metromile Metromile (NASDAQ: MILE, MILEW) is a leading digital insurance platform in the United States. With data science as its foundation, Metromile offers real-time, personalized auto insurance policies by the mile instead of the industry’s reliance on approximations that have historically made prices unfair. Metromile’s digitally native offering is built around the modern driver’s needs, featuring automated claims, complimentary smart driving features and annual average savings of 47% over what they were paying their previous auto insurer. In addition, through Metromile Enterprise, it licenses its technology platform to insurance companies around the world. This cloud-based software as a service enables carriers to operate with greater efficiency, automate claims to expedite resolution, reduce losses associated with fraud, and unlock the productivity of employees. For more information about Metromile, visit www.metromile.com and enterprise.metromile.com. Contacts Investor Relations Garrett Edson, ICRir@metromile.com646-677-1889 Public Relations Rick Chen, Metromilepress@metromile.com 415-676-7744
