Tech
This could be one of the highest-profile IPOs this year
It’s set to be one of the highest profiles public offerings this year!
The dynamic investing service Robinhood is one step closer to going public, filing paperwork to trade on the Nasdaq under the ticker name “HOOD”
The service is popular with younger investors and brand new investors who played a big role in the so called “Reddit Rebellion” where retail investors who combined to support beaten down stocks including Gamestop.
According to the paperwork – Robinhood’s mission is to “deomocratize finance for all”
Cryptocurrency trading on the platform was booming in the first quarter, with 17% of its total revenue involving transactions related to it.
Its monthly active users have more than doubled in the past year, with 17.7 million as of the first quarter, up from 8.6 million in the same period last year.
The company was cofounded in 2013 by two students who met at Stanford University.