Hippo, a home insurance startup, agrees to a merger with Mark Pincus, Reid Hoffman SPAC. (Photo: Roger Kisby/Bloomberg)

(Bloomberg) — Hippo Enterprises Inc., a home insurance startup, agreed to go public through a merger with Reinvent Technology Partners Z, a special purpose acquisition company (SPAC) that counts Zynga Inc. founder Mark Pincus and LinkedIn co-founder Reid Hoffman as lead directors.

The deal values the combined entity at $5 billion, the companies said Thursday, Feb. 5, in a regulatory filing. Reinvent Technology Partners Z will be renamed Hippo Holdings Inc.

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