Time News Global Business, Technology, Entrepreneurship News
Related Articles
Robinhood, robinhood ipo 22.5m junebeaudette an online brokerage firm, filed for an initial public offering (IPO) on June 19. The company is expected to list its stock on the Nasdaq Global Select Market and receive a total of $22.5 million in proceeds. Robinhood is a relatively new company, having launched in December 2014. At that time, it was available only to those who enrolled in Robinhood’s free trial program. Today, Robinhood has over 2 million users and operates in 26 states. The company’s mission statement is “to make investing easy and help people save money.” Its core product is a free mobile app that allows individuals to trade stocks and options without having to pay fees associated with traditional brokerages. robinhood ipo 22.5m junebeaudette
Robinhood’s Initial Public Offering (IPO)
Robinhood, a financial services company, announced that it plans to sell 7 million shares of its common stock through its initial public offering (IPO). The company is expected to begin trading on the New York Stock Exchange on Wednesday, June 27.
Robinhood was founded in 2013 by two former employees of E*Trade: Tyler and Cameron Winklevoss. The company offers a commission-free stock trading platform for iPhone and Android users. In February 2017, Robinhood announced that it had raised $363 million in Series C funding.
The IPO is expected to raise between $175 million and $225 million. The company is planning to use the money to expand its product offerings, increase its staff size, and continue investing in technology.
The Amount of Money Raised in the IPO
The robinhood ipo netted $233 million for the company, valuing it at over $10 billion. This makes it one of the largest tech IPOs in recent years. To put this into perspective, Airbnb raised $213 million in their 2013 IPO and Facebook’s was worth $104 billion. The main reason for the raised money is that robinhood plans to use the funds to fuel its growth. The company has a goal to increase its user base from 3 million to 10 million by the end of 2020. Additionally, robinhood plans to invest in new products and services such as crypto trading and custody services for institutional investors.
What Happened after the IPO?
After the Robinhood IPO, things went pretty well for the company. Its stock rose quickly in after-hours trading and has continued to be a popular holding for investors. In addition, Robinhood reported strong financial results for the first half of 2018, with growth across all platforms and product lines. The company is also expanding its operations into new markets, such as Europe and Australia. Overall, it looks like Robinhood is off to a good start post-IPO.
Future Plans for Robinhood
Robinhood is preparing to go public by the end of this year. They have already released a white paper and filed their S-1 form with the SEC. Robinhood has ambitious plans to become a leading provider of financial products and services for consumers and small businesses.
Their product lineup will include a variety of banking products, such as checking, savings, and loans; stocks and ETFs trading; margin trading; and a brokerage service that allows customers to invest in other companies’ securities.
Robinhood is also planning to expand its product offerings into new geographies, including additional states in the U.S., Canada, Europe, Australia, and Asia Pacific. The company believes that offering a comprehensive range of products will make it more attractive to consumers who want access to a wide variety of investments.
In addition to its own products, Robinhood will work with third-party providers to offer additional financial products and services. This strategy is designed to reduce customer turnover and improve customer experience by providing them with multiple options for managing their finances.
Conclusion
Robinhood’s new ipo was a huge success, raising $22.5 million in just under two hours! The company is continuing to grow quickly and has now raised over $176 million since its inception in 2014, so this was definitely not a fluke. If you’re looking for an easy way to invest in stocks and don’t have time to do it manually, Robinhood is definitely the app for you!
