finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Robinhood Aims For $35 Billion Valuation In IPO

Online US trading platform Robinhood is aiming to be valued at $35 billion when it floats on the Nasdaq Stock Exchange.

Posted: 21st July 2021 by
Finance Monthly
Share this article

Image by Andrew Neel from Pexels

On Monday, the trading platform revealed the details of its initial public offering in a stock market filing, preparing investors for one of the most highly anticipated IPOs of the year. The flotation follows a huge increase in young people signing up to the platform and beginning to trade shares throughout the covid-19 pandemic. The shares are expected to be priced at $38 to $42, the platform has said. 

Robinhood, which claims its mission is to “democratise” investing, is a highly controversial platform. It was recently criticised for curbing trading in the middle of the surge in GameStop shares as it struggled to keep up with demand, and, in February, the company was sued following the suicide of a 20-year-old trader. 

If Robinhood achieves its $35 billion valuation target, then the IPO will mark a threefold increase since September 2020 when the platform was valued at $11.7 billion. The company is estimated to have 22.5 million funded accounts, up from 18 million in the first quarter of this year, and expects to see second-quarter revenue for the year sit between $546 million and $574 million. This would be a 129% increase from the same period last year.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram