Metromile

Metromile Enterprise is the SaaS-based, insurtech business group of METROMILE, the pay-per-mile car insurance leader.

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Lemonade

Artificial intelligence (AI)-powered insurance company Lemonade has officially divested online insurance platform and pay-per-mile vehicle insurer Metromile's Enterprise Business Solutions (EBS) to digital insurance platform EIS, according to a press release Monday (Aug. 1). EBS was Metromile's Software-as-a-Service (SaaS) claims automation and fraud detection platform, which was licensed to large insurance carriers, per the release.

Lemonade Sells Metromile Enterprise Business Solutions Platform

Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired – adding to the volatility the technology sector has seen over the past 18 months.

Lemonade closes on acquisition of insurtech Metromile, promptly lays off about 20% of its staff

Just yesterday, Lemonade (NYSE: LMND ) revealed that the company completed its buyout of Metromile. Interestingly, LMND stock rose yesterday in the wake of this development, but today the shares are down.

Why Is Lemonade (LMND) Stock in the Spotlight?

The company just became substantially larger.

Why Lemonade Was a Tasty Stock on Thursday

Lemonade just announced it has cleared a big hurdle in its auto insurance ambitions.

Could Lemonade's Auto Insurance Business Finally Jump to the Next Level?

Metromile, Inc. (MILE) delivered earnings and revenue surprises of -170% and 78.44%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Metromile, Inc. (MILE) Reports Q1 Loss, Tops Revenue Estimates

SAN FRANCISCO, May 10, 2022 (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 2022 on its website. The results are accessible on Metromile's investor relations website at ir.metromile.com.

Metromile Announces First Quarter 2022 Financial Results

SAN FRANCISCO, Feb. 28, 2022 (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 fourth quarter and full year 2021 on its website. The results are accessible on Metromile's investor relations website at ir.metromile.com.

Metromile Announces Fourth Quarter and Full Year 2021 Financial Results

Here's What Metromile Can Do for Lemonade

Transaction Anticipated to Close During Q2 2022 Transaction Anticipated to Close During Q2 2022

Metromile Announces Stockholder Approval of Merger Agreement with Lemonade

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The insurance tech players are underperforming the market badly.

Why Are Lemonade and Metromile Plunging on Monday?

What's the Deal With Lemonade's Acquisition of Metromile?

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For those readers unfamiliar with what a special purpose acquisition company, or SPAC, is or does, here is a short but useful definition, courtesy of Vox's Rani Molla:

SPACs in 2021: From Boom to Bust

NEW YORK, Nov. 19, 2021 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Metromile, Inc. ("MILE" or the "Company") (MILE) relating to its proposed acquisition by Lemonade, Inc. Under the terms of the agreement, MILE shareholders will receive a ratio of one share of Lemonade common stock for every nineteen shares of MILE they hold. The investigation focuses on whether Metromile, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Metromile, Inc. - MILE

SAN FRANCISCO, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Metromile, Inc. (NASDAQ: MILE, MILEW), a leading digital insurance platform and pay-per-mile auto insurer, today announced its results for the third quarter ended September 30, 2021.

Metromile Announces Third Quarter 2021 Results

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Lemonade will acquire Metromile in a deal expected to close next year. Insurtech M&A activity and large raises show the space has matured.

Lemonade to acquire fellow insurtech Metromile

NEW YORK, Nov. 9, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Metromile, Inc. ("Metromile" or the "Company") (NASDAQ: MILE), in connection with the proposed acquisition of the Company by Lemonade, Inc. ("Lemonade") (NYSE: LMND). Under the terms of the merger agreement, the Company's shareholders will receive Lemonade common shares at a ratio of 19:1, or one share of Lemonade for every nineteen shares of Metromile common stock that they hold.

SHAREHOLDER ALERT: WeissLaw LLP Investigates Metromile, Inc.

After the recent launch of Lemonade car insurance, AI-powered insurance company Lemonade has announced its first-ever acquisition, purchasing the online insurance platform and pay-per-mile vehicle insurer Metromile in an all-stock deal aimed at boosting its auto insurance business. Related news: Lemonade Launches Car Insurance Platform in Illinois The insurance technology company is pinning its hope […]

Insurtech Firm Lemonade Acquires Metromile, Pet Business 'Outperforms Expectations' in Q3

Lemonade (NYSE: LMND)  and Metromile (NASDAQ: MILE) recently announced they entered into a definitive agreement pursuant to which Lemonade will acquire Metromile. These are the details.

Why Lemonade (LMND) Is Buying Metromile (MILE) For About $500 Million

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MILWAUKEE, Nov. 8, 2021 /PRNewswire/ -- Ademi LLP is investigating Metromile (NASDAQ: MILE) (NASDAQ: MILEW), for possible breaches of fiduciary duty and other violations of law in its transaction with Lemonade. Click here to learn how to join the action: https://www.ademilaw.com/case/metromile-inc or call Guri Ademi toll-free at 866-264-3995.

Shareholder Alert: Ademi LLP investigates whether Metromile, Inc. has obtained a Fair Price in its transaction with Lemonade

NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Metromile, Inc. (NASDAQ: MILE) to Lemonade, Inc. is fair to Metromile shareholders. Under the terms of the transaction, Metromile shareholders will receive Lemonade common shares at a ratio of 19:1. Halper Sadeh encourages Metromile shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ha

Metromile Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Sale of Metromile, Inc. Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – MILE

News for Metromile Stock (MILE)