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Alphabet-Backed Startup Insurer Oscar Health Raises $1.2 Billion in IPO By Chibuike Oguh | March 3, 2021 Oscar Health Inc., a health insurance startup backed by Google parent Alphabet Inc., sold shares in its initial public offering (IPO) on Tuesday at $39 apiece, above its target range, to raise $1.2 billion. The IPO gives New York-based Oscar Health a market value of $7.7 billion. The target price range on the offering of 31 million shares was raised earlier on Tuesday to $36-$38 per share, up from $32-$34. Oscar Health sells health insurance coverage to individuals, families, small businesses and Medicare users, with 529,000 customers on its technology platform across 18 states. In 2020, Oscar Health said its customers grew 75% year-on-year as the COVID-19 pandemic increased demand for healthcare delivery through online, mobile and at-home methods.
By Reuters Staff 2 Min Read (Reuters) - Shares of Oscar Health fell more than 7% in their stock market debut on Wednesday, fetching a valuation of just over $7 billion for the health insurance startup backed by Google parent Alphabet Inc. The company’s shares opened at $36 on the New York Stock Exchange, below its initial public offering (IPO) price of $39 per share. Oscar Health raised $1.2 billion from its offering of 31 million shares on Tuesday, after increasing the price range. Oscar Health is yet to bring in a profit but saw its customers grow 75% in 2020 as more people sought remote healthcare during the COVID-19 pandemic, supercharging the telemedicine market and prompting companies to expand their scale.
Oscar Health Inc., the digital health insurance company well known to New Yorkers thanks to a subway advertising campaign, is going public in a deal that could value the company at up to $8 billion.
Read more about Alphabet-backed Oscar Health eyes as much as $6.7 bn IPO valuation on Business Standard. The offering is expected to be priced between $32 and $34 per share, valuing the company at $6.7 billion at the upper end of the pricing range
Oscar Health, a health insurance startup backed by Google parent Alphabet Inc, will raise as much as $1.05 billion in its initial public offering, according to a regulatory filing on Monday.
15 Fastest-Growing Fintech Companies - Insider Monkey insidermonkey.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insidermonkey.com Daily Mail and Mail on Sunday newspapers.
15 Fastest-Growing Fintech Companies yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff 2 Min Read (Reuters) - Oscar Health, a health insurance start-up backed by Google parent Alphabet Inc, filed for an initial public offering on Friday, looking to cash in on the surge in demand for digital health services during the COVID-19 pandemic. The New York-based company, which has about 529,000 users, enables scheduling physician visits, checking lab results, emergency virtual appointments and prescription refill through its mobile app or online platform. Oscar Health was founded in 2012 by Mario Schlosser, Kevin Nazemi, who is no longer a part of the company, and Josh Kushner, brother of former U.S. President Donald Trump’s adviser and son-in-law Jared Kushner.