{"id":118401,"date":"2021-07-19T12:36:23","date_gmt":"2021-07-19T12:36:23","guid":{"rendered":"https:\/\/fin2me.com\/?p=118401"},"modified":"2021-07-19T12:36:23","modified_gmt":"2021-07-19T12:36:23","slug":"robinhood-is-seeking-a-market-valuation-as-high-as-35-billion-in-upcoming-ipo","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/robinhood-is-seeking-a-market-valuation-as-high-as-35-billion-in-upcoming-ipo\/","title":{"rendered":"Robinhood is seeking a market valuation as high as $35 billion in upcoming IPO"},"content":{"rendered":"<ul>\n<li>Robinhood is seeking a market valuation of as much as $35 billion in its upcoming initial public offering, according to its amended prospectus released Monday.<\/li>\n<li>The stock trading app will attempt to sell its share at a range of $38 to $42 per share.<\/li>\n<li>Robinhood is looking to sell 55 million shares at that range to raise as much as $2.3 billion.<\/li>\n<\/ul>\n<p>Robinhood is seeking a market valuation of as much as $35 billion in its upcoming initial public offering, according to an amended SEC filing released Monday.<\/p>\n<p>The stock trading app will attempt to sell its share at a range of $38 to $42 per share, according to the updated prospectus. Robinhood is looking to sell 55 million shares at that range to raise as much as $2.3 billion.<\/p>\n<p>Robinhood \u2014 which plans to trade under the symbol &quot;HOOD&quot; on the Nasdaq \u2014 also updated several of its financial and user metrics in the amended filing. The company estimates it has 22.5 million funded accounts (those tied to a bank account), up from 18 million in the first quarter of 2021. <\/p>\n<p>The Menlo Park, California-based free-trading pioneer estimates second quarter 2021 revenue between $546 million and $574 million. This would be an 129% increase in revenue from the $244 million made in the second quarter of 2020. The company generated $522 million in revenue in the first quarter if 2021.<\/p>\n<p>Robinhood&#x27;s last private market valuation was $11.7 billion, raised last September. <\/p>\n<p>Goldman Sachs, Citigroup and JPMorgan are the lead underwriters on the deal, among other banks.<\/p>\n<p>Robinhood&#x27;s longstanding mission is to &quot;democratize&quot; investing and is seen as the main gateway for young investors to access the markets. The app experienced record levels of new, younger traders entering the stock market during the pandemic and during the GameStop trading mania. <\/p>\n<p>Competitors of Robinhood include Fidelity, Charles Schwab, Interactive Brokers and start-ups like Webull and Sofi. Charles Schwab has a market capitalization of $130 billion and Interactive Brokers has a market valuation of $26 billion. <\/p>\n<p>Robinhood \u2014 which\u00a0offers equity, cryptocurrency and options trading, as well as cash management accounts \u2014 is expected to make its public debut by the end of next week. <\/p>\n<p><em>Robinhood\u00a0is a five-time\u00a0<\/em><em>CNBC Disruptor 50<\/em><em>\u00a0company that topped this year&#x27;s list.<\/em><\/p>\n<p><em>Sign up<\/em><em>\u00a0for our weekly, original newsletter that offers a closer look at\u00a0CNBC Disruptor 50\u00a0companies like\u00a0Robinhood, and the founders who continue to innovate across every sector of the economy.<\/em><\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/07\/19\/robinhood-is-seeking-a-market-valuation-as-high-as-35-billion-in-upcoming-ipo.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robinhood is seeking a market valuation of as much as $35 billion in its upcoming initial public offering, according to its amended prospectus released Monday. [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Robinhood is seeking a market valuation as high as $35 billion in upcoming IPO - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/robinhood-is-seeking-a-market-valuation-as-high-as-35-billion-in-upcoming-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Robinhood is seeking a market valuation as high as $35 billion in upcoming IPO - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Robinhood is seeking a market valuation of as much as $35 billion in its upcoming initial public offering, according to its amended prospectus released Monday. 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