Insurance platform Ethos, backers seeking $211M in IPO

Company Overview - Ethos Technologies Inc. is an insurance platform based in San Francisco, aiming to raise approximately $211 million in an initial public offering (IPO) [1] - The company allows users to find and sign up for life insurance policies without a medical exam in just 10 minutes [3] IPO Details - Ethos plans to market 10.5 million shares priced between $18 to $20 each, with the IPO expected to price on January 28 [1][2] - At the top of the pricing range, Ethos would achieve a market value of $1.3 billion based on outstanding shares [2] Financial Performance - For the nine months ending September 30, Ethos reported a net income of $46.6 million on revenue of $277.5 million, compared to a net income of $39.3 million on revenue of $188.4 million in the same period the previous year [4] Shareholder Structure - Sequoia Capital holds 36% of the voting power, followed by Accel with 21%, and co-founders Peter Colis and Lingke Wang with 20% and 19% respectively [4] - Google Ventures controls 22% of the class A shares, while SoftBank holds 12% [4] Market Context - Ethos is following several US-based insurance-sector companies that have gone public recently, including Neptune Insurance Holdings Inc., Slide Insurance Holdings Inc., and Aspen Insurance Holdings Ltd. [5] - The IPO is being led by Goldman Sachs Group Inc. and JPMorgan Chase & Co., with plans for shares to trade on the Nasdaq Global Select Market under the symbol LIFE [5]