Welcome to our dedicated page for EverQuote news (Ticker: EVER), a resource for investors and traders seeking the latest updates and insights on EverQuote stock.
EverQuote, Inc. (NASDAQ: EVER) is a leading online insurance marketplace based in Cambridge, Massachusetts. The company provides a platform that connects consumers seeking insurance with a network of insurance providers. EverQuote focuses primarily on auto, home, and life insurance, helping consumers find relevant insurance quotes that meet their needs.
The company leverages data science and advanced technology to optimize its marketplace, ensuring high-quality, scalable connections between consumers and insurance providers. EverQuote's proprietary platform uses sophisticated mathematics and enterprise-class technology to drive its multi-channel campaign management and optimization, delivering high-quality traffic and referrals at optimal costs for its partners.
Founded as a quantitative internet marketing firm, EverQuote has deep roots in proprietary search engine marketing (SEM), analytics, email, and display technologies. This allows the company to efficiently source, scale, and deliver high-quality traffic and referrals. The EverQuote team uses a range of technologies, including comprehensive reporting and bidding engines, to maximize the effectiveness of its platform.
Recently, EverQuote has made several strategic moves to strengthen its position in the marketplace. The company reported a revenue of $68.0 million for the second quarter of 2023 and a Variable Marketing Margin (VMM) of $24.7 million, a record high as a percentage of revenue. In response to a prolonged downturn in the auto insurance market, EverQuote restructured its operations, eliminating approximately 30% of positions company-wide and exiting its health insurance vertical. This restructuring aims to position the company as a leader in the auto and home insurance markets.
EverQuote's financial condition has been bolstered by the sale of certain assets in its health insurance vertical for $13.2 million, providing additional liquidity. The company continues to focus on judicious expense management and strengthening its balance sheet, adopting a more asset-light model to capitalize on market opportunities with the normalization of the auto insurance industry.
EverQuote's mission is to empower insurance shoppers to protect their most important assets—their family, property, and future. The company's vision is to become the largest online source of insurance policies, using data, technology, and knowledgeable advisors to make insurance simpler, more affordable, and personalized.
For more information, visit everquote.com and follow the company on LinkedIn.
EverQuote, Inc. (Nasdaq: EVER) announced the addition of Tom Gruber to its Advisory Board. Gruber, a co-founder of Siri, is recognized for his expertise in AI and machine learning. CEO Seth Birnbaum highlighted Gruber’s experience in building consumer-centric products, aligning well with EverQuote's data-focused approach.
Gruber expressed excitement about leveraging data to enhance consumer safety and financial security. His extensive background in technology and product design is expected to drive innovation within EverQuote's offerings.
EverQuote, Inc. (Nasdaq: EVER) announced the appointment of Greg O’Brien as Senior Vice President of Business Development on October 22, 2020. O’Brien, an experienced executive in insure-tech and digital marketing, aims to enhance EverQuote's growth initiatives. COO Jayme Mendal emphasized that O’Brien's expertise will provide critical market insights. His background includes leading Noodle and CollegeBound, and he holds degrees from Cornell University and NYU. EverQuote focuses on simplifying the insurance process while aiming for digital transformation in the industry.
EverQuote, a prominent online insurance marketplace, announced it will release its third quarter 2020 financial results on November 2, 2020, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results, along with recent developments and business outlook. Investors can participate in the call via toll-free numbers or access the live webcast on the company's investor relations page. EverQuote aims to enhance the insurance shopping experience through data and technology, facilitating better protection for consumers' vital assets.
EverQuote, a leading online insurance marketplace, announced that Co-founder & CEO Seth Birnbaum will participate in a discussion hosted by JMP Securities analyst Ron Josey on September 8, 2020, at 11:00 am ET. This event is significant for investors and stakeholders, as it provides insights into the company's strategies and market outlook. The discussion will be accessible via a live audio webcast and will be archived for later viewing on EverQuote’s investor relations website.
EverQuote, Inc. (Nasdaq: EVER) has announced its acquisition of Crosspointe Insurance & Financial Services, a health insurance agency. This strategic move aims to enhance EverQuote's digital distribution platform for health insurance, capitalizing on a $130 billion market. The acquisition is expected to close by Q3 2020, with funding sourced from EverQuote's cash reserves. This partnership will bolster customer engagement and revenue diversification, aiming to improve the consumer experience in the health insurance sector.
EverQuote, Inc. (Nasdaq: EVER) has appointed Darryl Auguste to its Board of Directors, effective immediately. Auguste, an expert in analytics and online marketing, currently serves as EVP of Strategic Projects at EverQuote, leading high-value initiatives. He has a history of building consumer acquisition teams that drive over 10 million visits monthly. His appointment is expected to enhance EverQuote’s growth as it continues refining its online insurance marketplace, leveraging data analytics and a focus on diversity and inclusion.
EverQuote, a key online insurance marketplace, has announced its participation in several upcoming investor conferences. Management will host one-on-one meetings at the Oppenheimer Technology, Internet & Communications Conference on August 11, 2020, and at the Canaccord Global Growth Conference on August 13, 2020, which will include a virtual fireside chat at 11:00 a.m. ET. Further, they will present at the William Blair Insurance Tech Conference on the same day and at the Raymond James SMID Cap Conference on August 18, concluding with the Needham FinTech 1x1 Conference on August 19.
EverQuote, Inc. (Nasdaq: EVER) has appointed Thomas McDermott as Senior Vice President of Health & Medicare, effective July 21, 2020. McDermott brings over 20 years of experience from companies like Wayfair and McKinsey & Company. He is expected to drive growth in EverQuote's Health and Medicare sectors through innovative strategies. EverQuote operates a leading online insurance marketplace, connecting consumers with insurance providers, and aims to enhance consumer value through technology.
EverQuote, Inc. (Nasdaq: EVER) will report its second quarter 2020 financial results on August 4, 2020, after market close. The company will host a conference call and webcast at 4:30 p.m. ET to discuss the results and its business outlook. Interested parties can join the call via a toll-free number or through a webcast link provided in the press release. EverQuote operates a leading online insurance marketplace, connecting consumers with insurance providers, with a mission to empower insurance shoppers.
EverQuote, Inc. (Nasdaq: EVER) announces the appointment of Mike Connolly as Senior Vice President of Agency Sales and Customer Success. Connolly, a seasoned sales leader with experience at CarGurus, Experian, and Windstream, aims to enhance support for insurance agents as online shopping for insurance grows. COO Jayme Mendal emphasized Connolly's data-driven approach, which aligns with EverQuote's culture and objectives. The press release highlights the company's forward-looking plans, acknowledging the potential risks involved, including competition and market dynamics.
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