Robinhood is seeking a market valuation as high as $35 billion in upcoming IPO

Robinhood is searching out for a market valuation of as indispensable as $35 billion in its upcoming preliminary public offering, in response to an amended SEC submitting released Monday.

During its roadshow, the stock shopping and selling app will explore to sell its part at a differ of $38 to $42 per part, in response to the up up to now prospectus. Robinhood is taking a peek to sell 55 million shares at that differ to rob as indispensable as $2.3 billion.

Robinhood — which plans to alternate under the emblem “HOOD” on the Nasdaq — furthermore up up to now just a few of its monetary and particular person metrics in the amended submitting. The company estimates it has 22.5 million funded accounts (those tied to a checking legend), up from 18 million in the first quarter of 2021.

The Menlo Park, California-based free-shopping and selling pioneer estimates 2nd quarter 2021 revenue between $546 million and $574 million. This would maybe be an 129% lengthen in revenue from the $244 million made in the 2nd quarter of 2020. The company generated $522 million in revenue in the first quarter if 2021.

Robinhood’s final non-public market valuation changed into once $11.7 billion, raised final September.

Goldman Sachs, Citigroup and JPMorgan are the lead underwriters on the deal, amongst other banks.

Robinhood’s longstanding mission is to “democratize” investing and is considered as the necessary gateway for younger merchants to discover true of entry to the markets. The app skilled file ranges of new, youthful merchants coming into the stock market all in the course of the pandemic and all in the course of the GameStop shopping and selling mania.

Robinhood — which provides equity, cryptocurrency and alternatives shopping and selling, as effectively as cash management accounts — is anticipated to construct its public debut by the tip of subsequent week.

Robinhood is a five-time CNBC Disruptor 50 company that topped this one year’s list.

Be part of for our weekly, long-established newsletter that provides a better peek at CNBC Disruptor 50 corporations indulge in Robinhood, and the founders who continue to innovate across every sector of the financial system.

0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x