Investors reward Lemonade with $3.8B valuation

Venture-backed insurance seller Lemonade got a sweet reception from investors on the day of its initial public offering. Listed on the technology-heavy Nasdaq index, the company (LMND) ended the day with its shares trading at $69.38, more than double its amended target price of $29. That target gave the company a valuation of $1.6 billion, down from its $2.1 billion valuation in a 2019 funding round with Softbank. But its closing price gives Lemonade a

source https://therealdeal.com/2020/07/02/investors-reward-lemonade-with-3-8b-valuation/