Money
Robinwho? This will be one of the most closely watched IPO’s of 2021
Whether you agree with what they do or not – The Robinhood IPO is set to be one of the most closely watched of the year
The Online brokerage offering that loves disrupting the market is offering around 55 million shares between 38 and 42 US dollars as they aim to raise more than 2.3 billion.
The founders have filled out most of the papwerwork and plans to list the stocks on the Nasdaq under the symbol known as “HOOD”
The company expects to report second-quarter revenue between $546 million and $574 million, more than double what it generated a year earlier.
The number of funded Robinhood accounts increased by 4.5 million between the end of March and the end of June, reaching 22.5 million in total.
Robinhood last sold shares to startup investors in 2020 at a nearly $12 billion valuation.
Robinhood also said it estimated it has 22.5m funded accounts, up from 18m in the first quarter of 2021.
Major banks including Goldman Sachs and JP Morgan are underwriting the deal
Robinhood’s registered users have doubles since the start of 2021 to around 31 millions
Their mission is to “democratise finance for all and the median age of their users is 31 years of age.
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