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Online Insurer Lemonade Raises $319M in IPO

By Penni Schewe 17 hours ago

Lemonade lifted $319 million in its preliminary general public providing on Wednesday.

The on the internet insurance enterprise offered 11 million shares priced at $29 each and every. Underwriters for the IPO will have an selection to invest in an further one.65 million shares in a thirty-working day window.

Goldman Sachs Team, Morgan Stanley, and Allen & Firm are the managing bookrunners for the providing.

Lemonade priced the shares above its indicated variety of $26 to $28.

The IPO values the New York-dependent enterprise at $one.six billion, noticeably reduced than the $2.one billion pre-income valuation it been given as component of a $three hundred million funding round led by SoftBank Team past yr.

Lemonade, launched in 2015, generally targets initial-time insurance prospective buyers who are extra comfy with an entirely digitized method.

The company’s shares will get started investing at the New York Inventory Exchange on Thursday less than the

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A 2017 Magento Bug is Opening Up Online Shops for Hackers

By Penni Schewe 1 month ago

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Patch, patch, patch…

Hackers are greatly exploiting a 2017 vulnerability in a Magento plug-in that permits them to just take around a user’s e-commerce web-site and embed destructive code that permits the skimming of credit score card details.

Magento, bought by Adobe for $one.sixty eight billion in Could 2018, is an open up-resource ecommerce system that allows users establish on-line suppliers/method payments. Thanks to the mother nature of the details it procedures it is a key focus on for risk actors on the lookout to steal shoppers’ fiscal credentials.

It has persistently demonstrated a juicy vector for attacks.

The FBI warned in a flash warn before this thirty day period that hackers identified as Magecart (truly a huge range of teams) have been putting “e-skimming script directly on e-commerce websites and use HTTP GET requests to exfiltrate the stolen payment details through proxy compromised websites” working with

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