FSB grads take company public in near-billion dollar IPO

Clint Jones, Brandon Cruz, and the opening of the NASDAQ

A pair of Farmer School graduates who started their own company nearly 20 years ago rang the starting bell at NASDAQ on Wednesday as they took the company public with their IPO, a move that could be worth nearly a billion dollars.

Brandon Cruz and Clint Jones started GoHealth, a company that provides consumers with a digital portal to help them select insurance products, in 2001, just two years after graduating from Miami with information systems degrees (and a marketing degree for Jones). The pair started by creating websites for insurance agents before pivoting the company to specializing in Medicare products.

GoHealth now employs nearly 2,500 people and was recently named one of the best places to work in Chicago. Cruz said the company, which has had more than a billion dollars in annual revenue, intends to hire another 1,000 people this year.

“We will always continue investing to further differentiate our technology platform, making it easier for consumers to find the right health coverage through GoHealth,” Cruz said. “So while we couldn't be more proud of the results of our team's hard work, we believe we're just beginning to realize the opportunity to improve access to healthcare for consumers, and today's IPO provides us with the launchpad to help drive success towards that mission.”

According to a news release, the company was offering 43.5 million shares at $21 each, which could bring in more than $910 million.

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