Hippo offers home insurance products to consumers in more than 30 states. (Photo: Hippo)
(Bloomberg) — Hippo, an insurance technology startup, is in talks to go public through a merger with a special purpose acquisition company, according to people with knowledge of the matter.
The transaction with Reinvent Technology Partners, a special purpose acquisition company that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as its lead directors, is set to value the combined entity at more than $5 billion, according to one of the people, who requested anonymity because the talks are private. Terms could change or talks may fall apart.
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