SCHEDULE 13G/A: Ribbit Capital Entities and Meyer Malka Report 12.0% Beneficial Ownership in Root, Inc.

Ribbit Capital entities and Meyer Malka have collectively reported a 12.0% beneficial ownership stake in Root, Inc.'s Class A Common Stock, primarily through convertible Class B shares.

Summary

• Ribbit Capital IV, L.P. (Fund IV) reported beneficial ownership of 1,221,783 shares of Root, Inc. Class B common stock, which represents 10.2% of the Class A common stock on an as-converted basis.
• RT-E Ribbit Opportunity IV, LLC (RT-E) reported beneficial ownership of 235,824 shares of Root, Inc. Class B common stock, representing 2.2% of the Class A common stock on an as-converted basis.
• Ribbit Capital GP IV, L.P. (GP IV), Ribbit Capital GP IV, Ltd. (UGP IV), and Meyer Malka are deemed to collectively beneficially own 1,457,607 shares of Root, Inc. Class B common stock, representing an aggregate of 12.0% of the Class A common stock on an as-converted basis.
• The reported shares are Class B common stock, which are convertible at any time into Class A common stock on a one-for-one basis.
• The percentage of class is calculated based on 10.7 million shares of Class A common stock reported outstanding as of October 23, 2024, as disclosed in Root, Inc.'s Form 10-Q filed on October 30, 2024.
• Other reporting persons, including Bullfrog Capital, L.P., Bullfrog Capital GP, L.P., and Bullfrog Capital GP, Ltd., reported 0.0% beneficial ownership.

Sentiment

Score: 6

Explanation: The document is a factual disclosure of beneficial ownership. While a significant institutional stake can be viewed positively by investors, the document itself does not contain performance or forward-looking statements to assess sentiment beyond the fact of ownership.

Positives

• The disclosure of a significant 12.0% beneficial ownership by a prominent institutional investor group like Ribbit Capital can be viewed as a positive signal of confidence in Root, Inc.'s long-term prospects.

Industry Context

This filing indicates continued significant institutional interest in Root, Inc., an insurtech company. Large stakes by venture capital firms like Ribbit Capital are common in growth-oriented technology companies, reflecting long-term investment strategies and potential for future growth in the sector.

Stakeholder Impact

• Shareholders may view the significant beneficial ownership by Ribbit Capital entities and Meyer Malka as a positive signal of institutional confidence in Root, Inc.

Key Dates

Keywords

Root Inc, Ribbit Capital, SEC Filing, Schedule 13G, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Institutional Investor, Meyer Malka, Financial Technology, Insurance Technology