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This is according to the company's filings with the US Securities and Exchange Commission on Monday. By doing so, the startup plans to raise between $2 billion and $2.3 billion, and its total valuation will be between $33 billion and $35 billion. According to Reuters, previously it was expected that Robinhood's valuation could reach $40 billion.
The company filed for an IPO in March. Robinhood was launched in 2015, positioning itself from the start as a stock trading tool aimed at smaller private investors. This became the reason for both the service's strong growth, especially in 2020 with many new users, and Robinhood's problems. At the end of January, the app was at the centre of a scandal when it restricted operations on shares in GameStop and a number of other companies that Reddit users were buying up.
In early July, the company released its financials ahead of its IPO. Robinhood managed to turn a profit in 2020 - it was $7.45 million on revenue of $959 million. The number of users of the app more than doubled, from 7 million in March last year to 18 million in March this year.
source: wsj.com
The company filed for an IPO in March. Robinhood was launched in 2015, positioning itself from the start as a stock trading tool aimed at smaller private investors. This became the reason for both the service's strong growth, especially in 2020 with many new users, and Robinhood's problems. At the end of January, the app was at the centre of a scandal when it restricted operations on shares in GameStop and a number of other companies that Reddit users were buying up.
In early July, the company released its financials ahead of its IPO. Robinhood managed to turn a profit in 2020 - it was $7.45 million on revenue of $959 million. The number of users of the app more than doubled, from 7 million in March last year to 18 million in March this year.
source: wsj.com