Despite laying off 330 staff in January, insurance company Root has completed a big domain upgrade.
Founded in 2015, Root is an insurtech firm offering car insurance to a vast majority of the United States. With perks like free Lyft credits, the app-based business has become incredibly popular, raising more than $500 million before going public in October 2020.
At its IPO, Root was valued at $6.7 billion and raised $724.4 million from that public offering. There was a key digital asset missing for Root, though, and that was Root.com.
Up until now, Root has operated on JoinRoot.com, but almost 18 months after its IPO, Root has secured Root.com.
Last week, I noticed that Root.com changed to pendingTransfer status, meaning that it was about to move registrars. The company using Root.com at the time had also switched domains from Root.com to RootAdvisors.com.
Keep an eye on Root•com 👀 – wondering if it’s been sold. Plenty of end user buyers out there
— James Iles (@jamesiles) February 24, 2022
Today, Root.com landed at GoDaddy and began forwarding to JoinRoot.com. Since this is a new acquisition for the company, it’s likely that Root.com will forward to JoinRoot.com for some time until Root’s infrastructure transitions over to the new domain.
Root isn’t the first publicly-traded insurtech company to upgrade its domain. In 2019, Hippo upgraded from MyHippo.com to Hippo.com for $3.3 million.
Thanks to Jamie Zoch for helping confirm this move.