SoftBank-backed insurance startup Lemonade raises $319 million in IPO

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• Insurance startup Lemonade made over $300 million in it's initial public offering, according to source.
• It raised 11 million shares at $29 per share, much higher than was originally planned.
• Visit Business Insider's homepage for more stories.

SoftBank Group Corp-backed insurance startup Lemonade raised $329 million in its US initial public offering (IPO), a person familiar with the matter said on Wednesday.

Lemonade priced 11 million shares at $29 per share, the source said. This was above its indicated price range, which it had raised to between $26 and $28 per share earlier on Wednesday. It had previously guided for the offering to be priced between $23 and $26 per share.See the rest of the story at Business Insider

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• Softbank-backed Lemonade wants to raise up to $286 million in an IPO — valuing the 'insurtech' firm at about 25% less than its latest funding round
• SoftBank's Masayoshi Son is stepping down from Alibaba's board as he focuses on shoring up SoftBank's shaky finances