Robinhood Markets is a Menlo Park-based stock brokerage company that allows customers to buy, sell and trade stocks, cryptocurrencies, ETFs and options with zero commission charges. The application was widely used during the pandemic and recently, the company has announced to go public.
Yes, Robinhood Markets has reportedly filed for an Initial Public Offering with the United States Securities and Exchange Commission. According to a report by Business Standard, the trading application is moving forward with its public listing process, although it says that its plans could change later, but for now, the company has decided to go public.
Founded back in 2013 by Baiju Bhatt and Vlad Tenev, Robinhood Markets offers options, cryptocurrency and equity trading along with cash management accounts. The start-up also provides a stock brokerage service that democratises access to the financial markets and aims at making people understand the concept of storing money and trading using Robinhood’s platform.
Having said that, the company has selected Nasdaq (National Association of Securities Dealers Automated Quotations) as their venue for its Initial Public Offering, according to Business Standard.
We all know how the pandemic has treated us during the nationwide lockdowns and how it has impacted everyone around from an individual level to the entrepreneurial level. Everyone was sitting home, thinking about being productive. Well, guess what? Some of us were actually becoming productive and Robinhood Markets became an anchor for the youth during the peak of the COVID-19 pandemic.
Yes! The trading platform attracted the interest of the youth during the lockdown when they had nothing to do. Young adults started learning about stocks and trading and eventually ended up on Robinhood Markets that gives them an efficient tool to invest and trade stocks.
In my personal opinion, I think everyone wants to learn something about stocks and the financial markets in general because there is quick money in the game if you play well. Disclaimer- if you lose, you lose all of it. So, there is a 50% risk to reward chance that can only be learnt through proper analytics study and research. However, the experience still plays a major role.
Having said that, talking about the company’s recent fundraise, Robinhood Markets recently bagged USD 2.4 billion funding from Ribbit Capital as a part of its Convertible Note financing round. This brings the company’s total funding raised till date to USD 5.6 billion in over 21 financing rounds.