Taking too long? Close loading screen.
Connect with us

Tech

The Zebra reaches $100M run rate, turns profitable as insurtech booms

Published

on

From a cluster of insurance marketplace startups raising capital earlier this year, to neoinsurance provider Lemonade going public this summer at a strong valuation, Hippo’s huge new round and Root’s impending unicorn IPO, 2020 has proven to be a busy year for startups and other growth-oriented private tech companies focused on insurance.

That news cycle continues today, with The Zebra announcing that it has reached a roughly $100 million run rate, and, perhaps even more notably, that it has turned profitable.

TechCrunch most recently covered the car and home insurance marketplace startup in February, when it raised the first $38.5 million in a Series C eventually worth $43.5 million that Accel led. As we noted at the time, the startup joined “Insurify ($23 million), Gabi ($27 million) and Policygenius ($100 million) in raising new capital this year.”

The Zebra released a number of financial performance metrics as part of its Series C cycle, including that it recorded revenues of $37 million in 2019, and that it had reached a $60 million annual run rate around the time of its Series C. The Zebra also said that it could double in size this year, putting it above a $100 million run rate by the end of 2020.

With that history in hand, let’s talk about the company’s more recent performance.

A changing market

According to the company, The Zebra recorded net revenue of $6 million in May, 2020. That number grew to around $8 million in September. For those of you able to multiply, $8 million times 12 is $96 million, or a hair under $100 million. According to a call with the The Zebra’s CEO Keith Melnick, the company’s September was very close to $8.3 million, a figure that would put it on a $100 million run rate.

Given that our $100 million ARR club has a history of granting startups a little wiggle room when it comes to their size, it seems perfectly fine to say that The Zebra has reached revenue scale of $100 million; at its current rate of growth, even if its final September revenue tally is a hair light. the company should reach a nine-figure topline pace in October.

According to Melnick, while the bulk of The Zebra’s revenue isn’t recurring, a growing portion of it is. Per the CEO, around 2-5% of The Zebra’s revenue was recurring last year, a figure that he said is up to around 10% today. (If The Zebra binds an insurance policy itself, and that policy is renewed, its commissions can recur.)

What drove the company’s quick 2020 growth? In part, the insurance market changed, with insurance networks that depended on in-person sales seeing their ability to drive business slow thanks to COVID-19. Insurance marketplaces like The Zebra stepped in to assist, helping move some offline demand online. Melnick detailed that dynamic to TechCrunch, adding that when certain advertising channels saw demand fall, his company was able to leverage inexpensive inventory.

A number of factors appear to have added to The Zebra’s rapid growth thus far in 2020. Our next question is whether other, related players in the insurtech startup space have seen similar acceleration. More on that in a few days.

Finally, regarding The Zebra, the company said that it is now profitable. Of course, profit is a squishy word in 2020, so we wanted to know precisely what the company meant by the statement. Per the company’s CEO, it is generating positive net income, the gold-standard for profitability as the metric is inclusive of all costs, including the non-cash expenses that startups tend to strip out of their numbers to make the results look better than they really are.

If other players in the insurtech space are surfing similar trajectories, all that capital that went into the sector around the start of the year is going to appear prescient.

Source

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

Buy the AirPods Pro for $200 Before This Rare Offer Disappears

Published

on

Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

Apple AirPods Pro | $200 | Amazon
Apple AirPods Pro | $200 | B&H Photo

If you’re an iPhone user with some cash to blow, skip the pretenders and even the lesser AirPods to go for something better. The AirPods Pro stepped the game up with rubber tips, noise cancellation, and better overall audio quality. They’re a bit expensive and the price has dropped bit by bit over time, leading up to today’s opportunity to save $50 on a pair of your own, complete with a wireless charging case. With active noise canceling, automatic pairing on iPhones and iPads, and water/sweat resistance, picking ‘em now is a no-brainer if you were already in the market for them.

Advertisement

We saw these drop just before Amazon Prime Day, and the price has held steady since. However, B&H Photo has a similar offer that’s set to expire October 30, which may be a signal that the opportunity is about to pass. Be sure to get your order in while there’s still time!

Advertisement

This story was originally published by Quentyn Kennemer on 5/1/2020 and updated by Gabe Carey with new information on 10/27/2020.


Source

Continue Reading

Tech

The 10 Best Deals of October 29, 2020

Published

on

Gif: Juliana Clark

Best Deals of the DayBest Deals of the DayThe best deals from around the web, updated daily.

Thursday’s Best Deals | Kinja Deals

It’s October 29, and we at Kinja Deals are here to bring you the top 10 deals of the day. Protect your data by purchasing a plan from NordVPN. Snag that 55″ Smart TV you’ve been saving up for from TCL. Get started on those DIY home repairs with the RYOBI One+ 3-Tool Combo Kit.

Advertisement

And if you’re still looking for more savings, take a look at Thursday’s best deals overall.

Advertisement

In his roundup of the best VPNs at Gizmodo, Andrew Couts called NordVPN “fast and easy to use,” citing accessibility and affordability as reasons to subscribe. Though it’s almost always marked down from its $287 list price, the 2-year plan is nonetheless the cheapest option to get started with the service and continue using it long-term. For a limited time only, though, it’s not only 68% off, bringing your total to just $89 for 730 days, but it also comes with an extra plan on top of that—chosen at random by the Nordic gods. Couts says in his abbreviated review:

No matter what you pay, you’ll get access to more than 5,400 servers in more than 60 countries, a bunch of features you may or may not want, and, because the company is based in Panama, assurances that your data—or lack of data, as the case may be—is outside of U.S. and European jurisdictions. Like every other VPN on this list, NordVPN claims to have a “strict no-logs policy,” so most of your data isn’t collected, the company says. It does still collect your email address, payment information, and the timestamp of the last time you launched the VPN.

But NordVPN isn’t without its downsized. “…some researchers have found that it sends your email address and Google Ad ID to a marketing company when you register through the Android app and contains some trackers,” Couts explains. “Another downside is that some of NordVPN’s servers are rented, which means another company you need to trust is in the mix. And yes, one of those servers got hacked in 2018.”

Still, if you want the one of the most reliable VPN clients, with the budget to support its robust infrastructure, you can’t go wrong with NordVPN. Plus, with availability on virtually every platform you can think of—from macOS to Android TV—it’s equal parts ubiquitous and acclaimed. Endorsed by PCMag, Wired, CNET, Business Insider, and more, it may be time to board the Nord hype train if you’re somehow unwedded to a VPN already.

Advertisement

This deal was originally published by Gabe Carey.

Advertisement

Best Buy has an insane deal going for a brand new 55″ 4K TCL smart TV. It’s the S434, which is pretty baseline for TCL’s lineup, but at just $200, there’s little to complain about. TCL’s panels are plenty sharp and accurate, and with this set, you’ll get HDR10 compliance for enhanced color and brightness in supported games and video content. This model has Android TV onboard for all your app needs, and with an included voice remote, all your favorite content is just a shout away with the help of Google Assistant.

Advertisement

This deal was originally published by Quentyn Kennemer.

Advertisement

For a short time, you can grab an Eight Sleep Pod Pro Cover for $1359+. Here’s the deets from one of our wonderful writers, Chaya:

Ranging from $1,445 to $1,745 depending on the size of your bed (or $175 off using our exclusive promo code KINJA175), the Pod Pro Cover from popular mattress brand Eight Sleep turns ANY mattress into a five-star sleeping experience. In short, Eight Sleep took the very best technology from their mattress and turned it into what is essentially a cover that transforms any bed into a smart bed. The encasement is placed on top of your current mattress and appends bed cooling and heating technology, a virtually silent vibration alarm system, sleep tracking, and a whole lot more. The cover is a two-part system: the encasement, which retrofits your mattress for a “PerfectFit TM” and the Active Grid cover, which adheres securely to the encasement to make your new smart bed manageable by app. A water hose and small hub connected to the Active Grid make the whole thing possible so that you can keep the rest of the bedding you’ve already got—no unnecessary spending or excess waste required.

Advertisement

Grab it before it’s gone!

Advertisement

This deal was originally published by Ignacia Fulcher.

Advertisement

If you’re planning on getting your hands dirty with a DIY project at home, now is arguably the best time to do it since, well, you’re stuck there most of the time anyway. But, of course, in order to pull it off successfully, you’ll need the right tools for the job. Fortunately, the RYOBI One+ three-tool combo kit includes everything you’ll need to start cutting and drilling your way through the pain. For $99—a whopping 64% off—you can fetch a cordless drill, circular saw, and reciprocating saw with a single 1.5Ah battery to share between the three. An 18W charger keeps your power tools revved up and ready to go whenever you need ‘em most. To sweeten the deal, a carry bag can also be found in the box.

Save $177 on this versatile, multi-purpose kit today and get three essential utilities for the price of one. At The Home Depot, discounts like these don’t last long, so jump on it before stock runs out!

Advertisement

This deal was originally published by Gabe Carey.

Advertisement

Sony’s new WH-1000XM4 headphones are leading the way in their noise-cancellation technology, alongside the gestures that come with these new models. They were down to $298 during Prime Day and $284 at Newegg just a couple of weeks ago, but BuyDig is piledriving the competition with a $278 sticker price today.

Advertisement

They will pause the track once it detects you’re speaking, and will also switch off the noise-cancellation when a hand is put on the right-cup. They feature fantastic sound and are able to be paired for up to two devices, so you can switch between your phone and your tablet with ease.

This deal was originally posted by Daryl Baxter.

Advertisement

Though they’re mostly for keeping things clean, even towels get dirty eventually. Sure, it might’ve started as a way to rinse off after a shower karaoke sesh, but eventually that white will start to fade and might not look as nice hanging up. Or maybe after a few too many pup accidents in the house, it’s just time for a new set of linens.

Huckberry’s Turkish towels usually sell for a bit over $40, but right now they’re down to just below $30, and you’re getting some pretty fancy looking towels for your money. The striped towels come in plenty of variants to match your decor, and their unique design will certainly earn a few compliments if we’re ever safe to have people over.

Advertisement

This deal was originally published by Jordan McMahon.

Echo Auto | $20 | Amazon

Echo Auto | $20 | Amazon
Graphic: Ignacia Fulcher

Advertisement

If you want all your Alexa tunes playing in your car then you’re in luck! For $20, which is a good 60% off the original list price, you can connect to the Alexa app on your phone and play music through your vehicle’s speakers via auxiliary or Bluetooth. The Echo Auto has eight microphones so it can hear your voice through loud noises throughout the duration of your trip. You’ll also be able to stream Amazon music, Apple Music, Spotify, and other services with just the sound of your voice. I would grab this deal before it is gone!

Advertisement

This deal was originally published by Ignacia Fulcher. 

Advertisement

I don’t know about you, but as a tangental Star Wars fan, I only made it through the first season of The Mandalorian because of Baby Yoda. Luckily, the masses have done us all a favor and gave us what we all need—a plush of our favorite character for a decent $18. You can cuddle with him when the new season drops in a few days. Thank me later.

Advertisement

This deal was originally published by Ignacia Fulcher.

Advertisement

Animal Crossing: New Horizons is all about vibing out and literally minding your business, so why not hop on a themed Nintendo Switch for $270? It’s refurbished via Best Buy Geek Squad, so there’s a 90-day warranty if things go wrong. You’ll get the Joy-Cons in those calming colors which just set up a mood of relaxation. And while you’re at it, if you still haven’t bought it, Animal Crossing: New Horizons is only $50, $10 off its original list price. What are you waiting for? That weird owl thing is waiting for you.

Advertisement

This deal was originally published by Ignacia Fulcher.

Advertisement

If you’re an iPhone user with some cash to blow, skip the pretenders and even the lesser AirPods to go for something better. The AirPods Pro stepped the game up with rubber tips, noise cancellation, and better overall audio quality. They’re a bit expensive and the price has dropped bit by bit over time, leading up to today’s opportunity to save $50 on a pair of your own, complete with a wireless charging case. With active noise canceling, automatic pairing on iPhones and iPads, and water/sweat resistance, picking ‘em now is a no-brainer if you were already in the market for them.

We saw these drop just before Amazon Prime Day, and the price has held steady since. However, B&H Photo has a similar offer that’s set to expire October 30, which may be a signal that the opportunity is about to pass. Be sure to get your order in while there’s still time!

Advertisement

Advertisement

This deal was originally published by Quentyn Kennemer.


Source

Continue Reading

Tech

Through the End of the Week, Get an Extra Plan Free When You Sign up for 2 Years of NordVPN

Published

on

Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

2 Years + One Free Plan | $89 | NordVPN

In his roundup of the best VPNs at Gizmodo, Andrew Couts called NordVPN “fast and easy to use,” citing accessibility and affordability as reasons to subscribe. Though it’s almost always marked down from its $287 list price, the 2-year plan is nonetheless the cheapest option to get started with the service and continue using it long-term. For a limited time only, though, it’s not only 68% off, bringing your total to just $89 for 730 days, but it also comes with an extra plan on top of that—chosen at random by the Nordic gods. Couts says in his abbreviated review:

No matter what you pay, you’ll get access to more than 5,400 servers in more than 60 countries, a bunch of features you may or may not want, and, because the company is based in Panama, assurances that your data—or lack of data, as the case may be—is outside of U.S. and European jurisdictions. Like every other VPN on this list, NordVPN claims to have a “strict no-logs policy,” so most of your data isn’t collected, the company says. It does still collect your email address, payment information, and the timestamp of the last time you launched the VPN.

Advertisement

But NordVPN isn’t without its downsized. “…some researchers have found that it sends your email address and Google Ad ID to a marketing company when you register through the Android app and contains some trackers,” Couts explains. “Another downside is that some of NordVPN’s servers are rented, which means another company you need to trust is in the mix. And yes, one of those servers got hacked in 2018.”

Still, if you want the one of the most reliable VPN clients, with the budget to support its robust infrastructure, you can’t go wrong with NordVPN. Plus, with availability on virtually every platform you can think of—from macOS to Android TV—it’s equal parts ubiquitous and acclaimed. Endorsed by PCMag, Wired, CNET, Business Insider, and more, it may be time to board the Nord hype train if you’re somehow unwedded to a VPN already.

Advertisement


Source

Continue Reading

Trending