Oscar Health, a Startup Co-Founded by Jared Kushner's Brother Josh, to Make IPO Debut Today After Raising $1.4 Billion

Oscar Health, the health insurance startup co-founded by Josh Kushner, raised the initial public offering (IPO) pricing to $39 per share and raised $1.4 billion, according to a statement. It also raised the number of shares it offered for sale to 37 million shares.

The company previously intended to sell 31 million shares for $36 to $38 a share, an upgraded range from original $32 to $34. Overall, the IPO provides the company with a valuation of $7.9 billion.

The company was previously valued at $3.2 billion in March 2018. According to Crunchbase, Oscar Health raised $1.6 billion in funding since 2013. The latest funding round, led by Tiger Global Management, was completed in December 2020 when the health startup raised $140 million

The company will make its stock market trading debut on the New York Stock Exchange (NYSE) under the symbol “OSCR.”

Josh Kushner is the brother of Jared Kushner, son-in-law and former senior adviser to the previous U.S. President Donald Trump. He is a managing director of Thrive Capital, a tech-focused investment firm, who will retain the majority of the voting power at Oscar Health.

Alphabet (NASDAQ: GOOGL) and Fidelity Management are some of the early investors in the startup.

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