Robinhood Buying and selling App Recordsdata for Confidential IPO with SEC



Robinhood has confidentially filed for an IPO, as revealed by a draft submitting submitted to the US Securities and Trade Fee (SEC).

Robinhood, the now much-maligned buying and selling app, has confidentially filed a draft registration assertion for an IPO.

The story was first reported by Bloomberg and later confirmed by Robinhood in a weblog put up.

A Robinhood IPO has been within the works for a while. Reuters reported that Goldman Sachs would lead the IPO.

The IPO will happen as soon as the submitting receives the SEC’s approval. Although, the agency notes that the variety of shares on provide and the worth vary has not been determined.

Robinhood acquired a close to $12 billion valuation following a funding spherical in September 2020. The corporate’s backers embrace Andreessen Horowitz and Sequoia Capital.

Latest occasions have wrought turmoil for the corporate. Most notably, the corporate’s position within the GameStop inventory incident resulted in a big dip in its status.

Many criticized Robinhood for being hypocritical. It’s because its motto of democratizing funding was in battle with its determination to droop the buying and selling of the GameStop inventory. Customers of the app accused Robinhood of siding with establishments, and going in opposition to the thought of democratizing finance.

Nonetheless, Robinhood is a particularly common app regardless of all of the incidents. The app noticed over 600,000 downloads in a day, in accordance with analysis from SimilarWeb and JMP Securities. Its reputation holds as a result of, by way of consumer expertise, few apps come shut.

Robinhood IPO May Be a Enhance for Crypto

Robinhood, which provides cryptocurrency investments as effectively, has been common amongst youthful buyers because of its smooth interface. The corporate is certainly one of many associated to the cryptocurrency trade that’s set to go public.

Coinbase is the opposite main headliner for crypto-related IPOs. The San Francisco-based alternate will endure a direct itemizing as a substitute of an IPO, it introduced in January 2021. Coinbase’s most up-to-date valuation has been set at $90 billion.

As many as eight different crypto-associated corporations have mulled going public. These embrace mining {hardware} producer MicroBT and social buying and selling platform eToro.

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