Deals
Hippo Agrees to a Merger With Mark Pincus, Reid Hoffman SPAC
- Transaction values the combined entity at $5 billion
- Hippo, Reinvent agree to set a two-year lock-up on shares
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Hippo Enterprises Inc., a home-insurance startup, agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as lead directors.
The deal values the combined entity at $5 billion, the companies said Thursday in a regulatory filing. Reinvent Technology Partners Z will be renamed Hippo Holdings Inc.