Excerpt from Crain’s New York Business quoting DataTrek’s Nick Colas:
…. “The S-1 feels a lot like Uber’s,” said Nick Colas, co-founder of DataTrek Research. His observations are worth heeding because ahead of the e-hailing app’s much-hyped IPO last year, he gracefully laid out how—contrary to the story told by well-wishers—Uber was no Amazon….
….Even so, DataTrek says there’s no clear breakeven point for Lemonade’s business model. On the other hand, its prospects for growing into a sustainable enterprise look better than Uber’s. “At least you don’t need self-driving cars to make money selling insurance,” Colas said”….
Read the full article here on Crain’s NY Business.